Future Vision II Acquisition Corp. Q3 2024 Filing
Ticker: FVNNR · Form: 10-Q · Filed: Oct 18, 2024 · CIK: 2010653
Sentiment: neutral
Topics: spac, quarterly-report, financials
TL;DR
FVNNU Q3 2024 10-Q filed. Financials for SPAC are out.
AI Summary
Future Vision II Acquisition Corp. filed its quarterly report for the period ending September 30, 2024. The company, a special purpose acquisition company, reported its financial position as of September 30, 2024, with details on its common stock, additional paid-in capital, and retained earnings. The filing also includes information about its units, ordinary shares, and rights.
Why It Matters
This filing provides insight into the financial status and structure of Future Vision II Acquisition Corp. as it operates as a SPAC, which is crucial for investors tracking its progress towards a business combination.
Risk Assessment
Risk Level: medium — As a SPAC, Future Vision II Acquisition Corp. faces inherent risks related to its ability to complete a business combination within its specified timeframe.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
- 2024-10-18 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Future Vision II Acquisition Corp. (company) — Filer of the 10-Q report
- September 30, 2024 (date) — End of the reporting period
- 20241018 (date) — Filing date
- 0002010653 (company) — Central Index Key for Future Vision II Acquisition Corp.
- FVNNU (company) — Ticker symbol for Future Vision II Acquisition Corp. units
FAQ
What is the primary business of Future Vision II Acquisition Corp.?
Future Vision II Acquisition Corp. is a blank check company, also known as a special purpose acquisition company (SPAC), formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
What period does this 10-Q filing cover?
This 10-Q filing covers the quarterly period ending on September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on October 18, 2024.
What are the main financial components reported for Future Vision II Acquisition Corp. in this filing?
The filing reports on components such as Common Stock, Additional Paid-In Capital, and Retained Earnings as of various dates within 2024.
What does 'FVNNU' represent in the context of this filing?
FVNNU refers to the units of Future Vision II Acquisition Corp., with each unit consisting of one ordinary share and one right to acquire a fraction of an ordinary share.
Filing Stats: 4,590 words · 18 min read · ~15 pages · Grade level 19.8 · Accepted 2024-10-18 16:30:34
Key Financial Figures
- $0.0001 — , there were 7,544,000 ordinary shares, $0.0001 par value issued and outstanding. Tabl
- $10.05 — nt then in the Trust Account (initially $10.05 per share, plus any pro rata interest e
- $10.00 — ation of the Trust Account if less than $10.00 per public share due to reductions in t
Filing Documents
- futurevision2_10q.htm (10-Q) — 481KB
- futurevision2_ex31-1.htm (EX-31.1) — 10KB
- futurevision2_ex31-2.htm (EX-31.2) — 10KB
- futurevision2_ex32-1.htm (EX-32.1) — 4KB
- futurevision2_ex32-2.htm (EX-32.2) — 4KB
- 0001829126-24-006864.txt ( ) — 2671KB
- fvnnu-20240930.xsd (EX-101.SCH) — 31KB
- fvnnu-20240930_cal.xml (EX-101.CAL) — 26KB
- fvnnu-20240930_def.xml (EX-101.DEF) — 109KB
- fvnnu-20240930_lab.xml (EX-101.LAB) — 169KB
- fvnnu-20240930_pre.xml (EX-101.PRE) — 155KB
- futurevision2_10q_htm.xml (XML) — 302KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1
Financial Statements
Item 1. Financial Statements 1 Condensed Balance Sheet as of September 30, 2024 (unaudited) 1 Condensed Statements of Operations for the three months ended September 30, 2024 and for the period from January 30, 2024 (inception) through September 30, 2024 (unaudited) 2 Condensed Statements of Changes in Shareholders' Equity for the period from January 30, 2024 (inception) through September 30, 2024 (unaudited) 3 Condensed Statements of Cash Flows for the period from January 30, 2024 (inception) through September 30, 2024 (unaudited) 4 Notes to Condensed Financial Statements 5
Management's Discussion and Analysis of Financial Statements
Item 2. Management's Discussion and Analysis of Financial Statements 19
Quantitative and Qualitative Disclosure about Market Risks
Item 3. Quantitative and Qualitative Disclosure about Market Risks 24
Controls and Procedures
Item 4. Controls and Procedures 24
OTHER INFORMATION
PART II. OTHER INFORMATION 25
Legal Proceedings
Item 1. Legal Proceedings 25
Risk Factors
Item 1A. Risk Factors 25
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 25
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 25
Other Information
Item 5. Other Information 26
Exhibits
Item 6. Exhibits 27
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements FUTURE VISION II ACQUISITION CORP. CONDENSED BALANCE SHEET (Unaudited) Currency expressed in United States dollars ("US$), except for number of shares September 30, 2024 ASSETS Current assets Cash $ 1,464,303 Prepaid expenses 9,769 Total current assets 1,474,072 Non-current assets Marketable securities held in Trust Account 57,935,279 Total non-current assets 57,935,279 TOTAL ASSETS $ 59,409,351 Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders' Equity Current liabilities Accounts payable and accrued expenses $ 75,000 Due to related parties 5,667 Total current liabilities 80,667 Total Liabilities 80,667 Commitments and contingencies (Note 7) - Ordinary shares subject to possible redemption, 5,750,000 shares 52,654,348 Shareholders' Equity: Ordinary shares, $ 0.0001 par value, 500,000,000 shares authorized, 1,794,000 shares issued and outstanding (excluding 5,750,000 shares subject to redemption) 179 Additional paid-in capital 6,536,979 Retained earnings 137,178 Total Shareholders' Equity 6,674,336 TOTAL LIABILITIES, ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' EQUITY $ 59,409,351 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 FUTURE VISION II ACQUISITION CORP. CONDENSED (Unaudited) Currency expressed in United States dollars ("US$), except for number of shares For the Three Months Ended September 30, 2024 For the Period From January 30, 2024 (Inception) Through September 30, 2024 Formation and operating costs $ 918 $ 5,646 Administrative fee 5,667 5,667 Total operating expenses 6,585 11,313 Loss from Operations ( 6,585 ) ( 11,313 ) Other income: Interest income 712 712 Income earned on marketable securities held in Trust Account 147,779 147,779 Total other incom