FutureCrest Acquisition Corp. reported net income of $1.68M and diluted earnings per share of $0.05 for the first quarter of 2026, according to its 10-Q. The SPAC did not report operating revenue for the period and continues to focus on completing a business combination.
Financial Highlights
- Net income: $1.68M for Q1 2026 (consolidated net income).
- Diluted EPS: $0.05 basic and diluted net income per share for Q1 2026.
- Revenue: not reported for the period in Part I, Item 1/2.
Business Highlights
- Business model & purpose: Structured as a special purpose acquisition company (SPAC) to identify and complete a business combination; primary activities are target evaluation and transaction execution.
- Liquidity & trust funding: Completed IPO and placed approximately $287.5M in trust to fund a business combination and related activities.
- Operational activity: No revenue-generating operations to date; current spending centers on due diligence, target assessment and transaction-related expenses.
- Regulatory impact: New 2024 SEC SPAC rules may increase disclosure requirements, timelines and costs, potentially affecting deal negotiation and completion.
- Going concern & plan: Management notes potential need for additional capital support if required and intends to complete a business combination within the Completion Window.
Original SEC Filing:
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