Quarterly ResultJun 15, 2026, 04:22 PM
FTHAU Reports Q1 Net Loss $31,905; Shareholder Deficit $(63,276)
AI Summary
Forefront Tech Holdings Acquisition Corp (FTHAU), a blank check company, reported a net loss of $31,905 for the three months ended March 31, 2026, increasing its accumulated deficit to $88,276 and total shareholder's deficit to $63,276. The company had not commenced operations as of the reporting date, with all activity related to its formation and initial public offering. Subsequent to the quarter, FTHAU successfully completed its IPO on May 1, 2026, raising $100 million, which addressed its liquidity needs and going concern considerations.
Key Highlights
- Net loss for the three months ended March 31, 2026, was $31,905.
- Basic and diluted net loss per Class B ordinary share was $(0.01).
- Total Shareholder's Deficit increased to $(63,276) as of March 31, 2026, from $(31,371) at December 31, 2025.
- Total Liabilities rose to $346,405 as of March 31, 2026, from $131,934 at December 31, 2025.
- A promissory note from a related party had an outstanding balance of $167,464 as of March 31, 2026.
- The Initial Public Offering (IPO) on May 1, 2026, generated gross proceeds of $100,000,000.
- Simultaneously, 370,000 private placement units were sold for $3,700,000.
- Total transaction costs for the IPO amounted to $4,989,814.
Price Impact
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