Company: FCRS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110990
Chunk: 94

Company: FutureCrest Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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,750,000
Units issued as a result of the full exercise by the underwriters of their over-allotment option, at $10.00 per Unit, generating gross
proceeds of 287,500,000. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of an aggregate
of 3,500,000 Private Placement Warrants to the Sponsor and Cantor Fitzgerald & Co., the representative of the underwriters of
the Initial Public Offering, at a price of $2.00 per warrant, or $7,000,000 in the aggregate, in a private placement.

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Units, a total of $287,500,000 was placed in the Trust Account. We incurred
$17,861,874, consisting of $5,000,000 of cash underwriting fee, $12,250,000 of deferred underwriting fee, and $611,874 of other offering
costs.

For the period from June 9, 2025 (inception) through
September 30, 2025 , net cash used in operating activities was $105,991. Net loss of $77,978 consists of interest earned on marketable
securities held in the Trust Account of $23,851, payment of operation costs through promissory note of $10,420, and changes in operating
assets and liabilities of $14,582 used for operating activities.

We intend to use substantially all of the funds
held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes payable), to complete
our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our
Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the
target business or businesses, make other acquisitions and pursue our growth strategies. 

We intend to use the funds held outside the Trust
Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business