Fortunex Acquisition Corporation
06/08/2026 | Press release | Distributed by Public on 06/08/2026 13:12
FORTUNEX ACQUISITION CORPORATION UNAUDITED PRO FORMA BALANCE SHEET (Form 8-K)
FORTUNEX ACQUISITION CORPORATION
UNAUDITED PRO FORMA BALANCE SHEET
May 29, 2026
|
May 26, 2026 |
Pro Forma Adjustments |
As Adjusted |
|||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| Assets | |||||||||||||||
| Current Assets | |||||||||||||||
| Cash | $ | 1,102,515 | $ | (149,650 | ) | (b) | $ | 952,865 | |||||||
| Advance - related party | 53,900 | 131,100 | (c) | 185,000 | |||||||||||
| Prepaid expenses | 15,000 | 13,170 | (c) | 13,170 | |||||||||||
| (15,000 | ) | (k) | |||||||||||||
| Total Current Assets | 1,171,415 | (20,345 | ) | 1,151,035 | |||||||||||
| Cash and investments held in Trust Account | 75,750,000 | 11,250,000 | (a) | 87,148,790 | |||||||||||
| 149,625 | (b) | ||||||||||||||
| (37,125 | ) | (d) | |||||||||||||
| 36,290 | (e) | ||||||||||||||
| Deferred offering costs | - | 37,125 | (d) | - | |||||||||||
| 562,500 | (g) | ||||||||||||||
| (599,625 | ) | (j) | |||||||||||||
| Total Assets | $ | 76,921,415 | $ | 11,378,410 | $ | 88,299,825 | |||||||||
| Liabilities, Ordinary Shares Subject to Redemption and Shareholders' Deficit | |||||||||||||||
| Current Liabilities | |||||||||||||||
| Accounts payable and accrued expenses | $ | 14,260 | $ | (5,320 | ) | (c) | $ | 10,390 | |||||||
| 1,450 | (f) | ||||||||||||||
| Over-allotment option liability | 102,787 | (102,787 | ) | (h) | - | ||||||||||
| Total Current Liabilities | 117,047 | (106,657 | ) | 10,390 | |||||||||||
| Deferred underwriting fee payable | 3,750,000 | 562,500 | (g) | 4,312,500 | |||||||||||
| Total Liabilities | 3,867,047 | 455,843 | 4,322,890 | ||||||||||||
| Commitments and Contingencies (Note 6) | |||||||||||||||
| Ordinary shares subject to possible redemption, $0.0001 par value, 500,000,000 shares authorized, 7,500,000 shares and 8,625,000 shares at redemption value of $10.10 and $10.10 per share, as actual and adjusted, respectively | 75,750,000 | 11,250,000 | (a) | 87,148,790 | |||||||||||
| 36,290 | (e) | ||||||||||||||
| 112,500 | (i) | ||||||||||||||
| Shareholders' Deficit | |||||||||||||||
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 3,991,929 shares and 4,006,929 shares issued and outstanding, as actual and adjusted, respectively (excluding 7,500,000 shares and 8,625,000 shares subject to possible redemption, as actual and adjusted, respectively) | 400 | 1 | (c) | 401 | |||||||||||
| Accumulated deficit | (2,696,032 | ) | (25 | ) | (b) | (3,172,256 | ) | ||||||||
| (25 | ) | (c) | |||||||||||||
| 112,489 | (c) | ||||||||||||||
| 37,125 | (c) | ||||||||||||||
| (36,290 | ) | (e) | |||||||||||||
| (599,625 | ) | (j) | |||||||||||||
| 36,290 | (e) | ||||||||||||||
| 102,787 | (h) | ||||||||||||||
| (112,500 | ) | (i) | |||||||||||||
| (1,450 | ) | (f) | |||||||||||||
| (15,000 | ) | (k) | |||||||||||||
| Total Shareholders' Deficit | (2,695,632 | ) | (476,223 | ) | (3,171,855 | ) | |||||||||
| Total Liabilities, Ordinary Shares Subject to Redemption and Shareholders' Deficit | $ | 76,921,415 | $ | 11,378,410 | $ | 88,299,825 | |||||||||
The accompany notes are an integral part of the unaudited pro forma financial statement.
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FORTUNEX ACQUISITION CORPORATION
NOTES TO UNAUDITED PRO FORMA FINANCIAL STATEMENT
Note 1 - Closing of Over-allotment Option and Additional Private Placement Units
The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of FortuneX Acquisition Corporation (the "Company") as of May 26, 2026, adjusted for the closing of the underwriters' over-allotment option and related transactions which occurred on May 29, 2026 as described below.
On May 26, 2026, the Company consummated its initial public offering ("IPO") of 7,500,000 units (the "Units" and, with respect to the ordinary shares included in the Units being offered, the "Public Shares") at an offering price of $10.00 per Unit generating gross proceeds of $75,000,000. Simultaneously with the closing of the IPO, the Company consummated a private placement (the "Private Placement") in which FortuneX Investment Partners Limited (the "Sponsor") purchased 297,500 units (the "Private Placement Units") at a price of $10.00 per Private Placement Unit, generating total gross proceeds of $2,975,000.
The Company granted the underwriters a 45-day option to purchase up to an additional 1,125,000 Units (the "Option Units") at $10.00 per unit to cover over-allotments, if any. On May 27, 2026, the underwriters notified the Company of their exercise of the over-allotment option in full to purchase 1,125,000 additional units (the "Option Units") at $10.00 per unit. The closing of the issuance and sale of the Option Units occurred on May 29, 2026, generating total gross proceeds of $11,250,000. Simultaneously with the closing of the over-allotment option, the Company consummated the private placement of an aggregate of 15,000 Private Placement Units to the Sponsor, at a price of $10.00 per Private Placement Unit, generating gross proceeds of approximately $150,000.
A total of $87,112,500 ($10.10 per Unit) of the net proceeds from the sales of Units in the IPO, the Option Units and the Private Placements Unit on May 26, 2026 and May 29, 2026, were placed in a trust account with Continental Stock Transfer& Trust acting as trustee.
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Pro forma adjustments to reflect the sales of the Option Units and additional Private Placement Units described above are as follows:
| Pro Forma Entries | Debit | Credit | |||||||
| (a) | Cash and investments held in Trust Account | $ | 11,250,000 | ||||||
| Ordinary share subject to possible redemption | $ | 11,250,000 | |||||||
| To record the sale of 1,125,000 Option Units at $10.00 per Unit | |||||||||
| (b) | Cash and investments held in Trust Account | $ | 149,625 | ||||||
| Bank fee | 25 | ||||||||
| Cash | $ | 149,650 | |||||||
| To record the transfer of cash account to Trust account for trust overfunding and payment of underwriting commission | |||||||||
| (c) | Advance - related party | $ | 131,100 | ||||||
| Bank fee | 25 | ||||||||
| Accrued administrative expense | 5,320 | ||||||||
| Prepaid administrative fee | 13,170 | ||||||||
| Ordinary share - non redeemable | $ | 1 | |||||||
| Accumulative deficit | 112,489 | ||||||||
| Accumulative deficit | 37,125 | ||||||||
| To record trust overfunding of $.10/unit x1,125,000 units and underwriter cash commission ($11,250,000.00 x 0.33%), and amounts due from sponsor were offset by D&O insurance to be purchased by the sponsor and prepayment of administrative fees | |||||||||
| (d) | Deferred offering costs | $ | 37,125 | ||||||
| Cash and investments held in Trust Account | $ | 37,125 | |||||||
| To record payment of underwriting commission ($11,250,000.00 x 0.33%) | |||||||||
| (e) | Cash and investments held in Trust Account | $ | 36,290 | ||||||
| Interest earned in investments held in Trust Account | $ | 36,290 | |||||||
| Accumulative deficit | $ | 36,290 | |||||||
| Ordinary share subject to possible redemption | $ | 36,290 | |||||||
| To record interest earned in Trust Account and to reclass interest income to temporary equity | |||||||||
| (f) | Administrative expense | $ | 1,450 | ||||||
| Accrued administrative expenses | $ | 1,450 | |||||||
| To record three days (May 27 to May 29, 2026) of administrative expense | |||||||||
| (g) | Deferred offering costs | $ | 562,500 | ||||||
| Deferred underwriting commission payable | $ | 562,500 | |||||||
| To record deferred underwriting commission (5% of the sale of Option Units proceeds) | |||||||||
| (h) | Over-allotment liability | $ | 102,787 | ||||||
| Accumulative deficit | $ | 102,787 | |||||||
| To reverse over-allotment option liability | |||||||||
| (i) | Accumulative deficit | $ | 112,500 | ||||||
| Ordinary share subject to possible redemption | $ | 112,500 | |||||||
| To reclass trust overfunding to temporary equity | |||||||||
| (j) | Accumulative deficit | $ | 599,625 | ||||||
| Deferred offering costs | $ | 599,625 | |||||||
| To record the charge of deferred offering costs to permanent equity | |||||||||
| (k) | Professional fees - audit | $ | 15,000 | ||||||
| Prepaid expenses | $ | 15,000 | |||||||
| To record audit fees and reclassify from prepaid expense | |||||||||
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