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FACT II Acquisition Corp. (FACT+0.55%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that FACT II Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The company has not selected any specific business combination target and has generated no revenues to date. It does not expect to generate operating revenues until the consummation of its initial business combination.
FACT II Acquisition Corp. completed its initial public offering on November 27, 2024, raising $175,000,000 through the sale of 17,500,000 units at $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
The company also completed a private placement of 663,125 units at $10.00 per unit, generating additional gross proceeds of $6,631,250.
As of December 31, 2024, the company had $176,597,270 in its trust account, which will be used to complete its initial business combination.
FACT II Acquisition Corp. has 18 months from the closing of its initial public offering (or 24 months if it has executed a definitive agreement for a business combination within 18 months) to consummate its initial business combination.
The company’s management team includes Executive Chairman Robert Rackind, CEO Adam Gishen, and CFO Min Lee, who collectively have extensive experience in financial services and investment management.
The company’s board of directors consists of five members, including three independent directors who serve on the audit, compensation, and nominating committees.
FACT II Acquisition Corp. is an emerging growth company and a smaller reporting company, which allows it to take advantage of certain exemptions from reporting requirements.
The company’s sponsor is FACT II Acquisition Parent LLC, a Cayman Islands limited liability company established by Adam Gishen, Min Lee, Richard Nespola, Jr., and Joseph Wagman.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FACT II Acquisition Corp. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.