FIGXU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-05

• For the period from February 20, 2025 (inception) through March 31, 2025, we had a net loss of $30,298, which consisted of formation and general and administrative costs.

• For the three months ended March 31, 2026, cash used in operating activities was $47,043 with a net income of $1,222,873, interest earned on investments held in the Trust Account of $1,379,187. Changes in operating assets and liabilities provided $109,271 of cash for operating activities.

• For the period from February 20, 2025 (inception) through March 31, 2025, cash used in operating activities was $0. Net loss of $30,298. Changes in operating assets and liabilities provided $11,458 of cash for operating activities.

• As of March 31, 2026, we had marketable securities held in the Trust Account of approximately $155,087,314 (including approximately $1,379,187 of interest income) consisting of U.S. government treasury bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account to pay …

• We granted the Underwriters a 45-day option from the date of the Initial Public Offering to purchase up to an additional 1,965,000 Option Units to cover over-allotments, if any. On June 30, 2025, the Underwriters fully exercised their Over-Allotment Option.

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• For the period from February 20, 2025 (inception) through September 30, 2025, we had a net income of $1,436,792, which consisted of interest earned on investments held in the Trust Account of $1,596,061, formation and general and administrative costs of $273,926 and share-based compensation of $164,…

• For the period from February 20, 2025 (inception) through September 30, 2025, cash used in operating activities was $730,898, with a net income of $1,157,636, interest earned on investments held in the Trust Account of $1,596,061, payment of general and administrative costs through the IPO Promissor…

• As of September 30, 2025, we had marketable securities held in the Trust Account of approximately $152,246,061 (including approximately $1,596,061 of interest) consisting of U.S. Treasury Bills with a maturity of 185 days or less. We may withdraw interest from the Trust Account to pay taxes, if any.…

• The Underwriters were entitled to a cash underwriting discount of $2,620,000 (2.0% of the gross proceeds of the Public Units offered in the Initial Public Offering, whether or not the Over-Allotment Option was exercised), which was paid to the Underwriters upon the closing of the Initial Public Offe…

• Our Chief Financial Officer provides accounting services to us at a monthly rate of $3,000, commencing September 1, 2025, pursuant to the Consulting Agreement. For the three and nine months ended September 30, 2025, the Company incurred $9,000 in fees for these services, including $6,000 for work do…

Text added vs the prior filing · source: 10-Q · 2026-05-05

• There have been no changes in our internal control over financial reporting that occurred during the quarterly period ended March 31, 2026, that have materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-05-05

• Our search for an initial Business Combination, and any target business with which we may ultimately consummate an initial Business Combination, may be materially adversely affected by current global geopolitical conditions and armed conflicts in the Ukraine and Russia and in the Middle East between…

• Our ability to find a potential target business and the business of any company with which we may consummate a Business Combination could be materially and adversely affected by events that are outside of our control. For example, United States and global markets have experienced and may continue to…

• The invasion of Ukraine by Russia and the escalation of the conflict involving the United States, Israel and Iran and others in the Middle East and Southwest Asia and the resulting measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the Eu…

• Similarly, other events outside of our control, including natural disasters, climate-related events and pandemic or health crises (such as the COVID-19 pandemic) may arise from time to time, and any such events may cause significant volatility and declines in the global markets and have disproportio…

• Any of the abovementioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the escalation of the conflict involving the United States, Israel and Iran and others in the Middle East and Southw…