Fri, Oct 18, 8:32 PM (274 days ago)
Future Vision II Acquisition Corp. (FVN), a blank check company incorporated on January 30, 2024, filed its quarterly report for the period ending September 30, 2024. The company raised $57.5 million through its IPO on September 13, 2024, with $50 million from 5 million units sold at $10 each, and an additional $7.5 million from an over-allotment option. As of September 30, 2024, the company reported total assets of $59.4 million, including $57.9 million in marketable securities held in a trust account, and cash of $1.5 million. For the quarter, Future Vision recorded a net income of $141,906, primarily from interest income, while total operating expenses were $6,585. The company has no revenue-generating operations and will incur significant expenses in pursuit of a business combination. The management expressed substantial doubt about its ability to continue as a going concern if a business combination is not completed by March 2026. The financial statements indicate ongoing reliance on sponsor loans and highlight risks associated with future operations, including the potential for liquidation if a business combination does not occur within the specified timeline.