Company: FCRS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110990
Chunk: 65

Company: FutureCrest Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the initial
Business Combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the
Company’s shareholders having the right to exchange their shares for cash, securities or other property, the founder shares will
be released from the Lock-up.

Promissory Note – Related Party

On June 9, 2025, the Sponsor agreed to loan
the Company an aggregate of up to $300,000 to be used for a portion of the expenses of the Initial Public Offering. The loan is non-interest
bearing, unsecured and due at the earlier of December 31, 2026 or the closing of the Initial Public Offering. As of September 29,
2025, the Company had borrowed $84,591, which has been paid in full by the Company at the closing of the Initial Public Offering and the
borrowings under the promissory note are no longer available.

Working Capital Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes
a Business Combination, the Company would repay the Working Capital Loans. In the event that a Business Combination does not close, the
Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from
the Trust Account would be used to repay the Working Capital Loans. Up to $1,500,000 of such Working Capital Loans may be convertible
into Private Placement Warrants of the post Business Combination entity at a price of $2.00 per warrant at the option of the lender.
The warrants would be identical to the Private Placement Warrants. As of September 30, 2025, no such Working Capital Loans were outstanding.

Due to Sponsor

On September 29, 2025, the Company received from
the Sponsor a total of $18,609 in excess of the funds required to purchase the Private Placement Warrants. On September 30, 2025, the
amount received from Sponsor totaled $22,500. On October 1, 2025