NEW YORK, May  26, 2026  (GLOBE NEWSWIRE) -- FortuneX Acquisition Corp (NASDAQ:FXACU, the &#34;Company&#34;)) announced today that it closed its initial public offering (&#34;IPO&#34;) of 7,500,000 units at an offering price of $10.00

FXACU

FortuneX Acquisition Corp Announces Closing of Initial Public Offering

FortuneX Acquisition debuts on Nasdaq after $75 million IPO

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK, May  26, 2026  (GLOBE NEWSWIRE) -- FortuneX Acquisition Corp (NASDAQ:FXACU, the &amp;#34;Company&amp;#34;)) announced today that it closed its initial public offering (&amp;#34;IPO&amp;#34;) of 7,500,000 units at an offering price of $10.00</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>FortuneX Acquisition Corp completed its IPO, selling 7.5 million units at $10 each, raising about $75 million with a 45-day option for 1.125 million more. Each unit includes one ordinary share and half a warrant; warrants exercisable at $11.50. The SPAC will pursue a merger in the Asia-Pacific region, avoiding Greater China.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FortuneX Acquisition closes IPO of 7.5 million units at $10.</li><li>Underwriters may purchase up to 1.125 million additional units within 45 days.</li><li>Each unit includes one share and 0.5 warrant; warrants exercisable at $11.50.</li><li>FXACU began trading May 22; FXAC and FXACW expected to list later.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>FortuneX Acquisition Corp (FXACU)</strong>: Completed IPO; SPAC that will search for a merger target in Asia-Pacific.</li><li><strong>FXAC (FXAC)</strong>: Share component to trade after separation from FXACU; potential price sensitivity to deal news.</li><li><strong>FXACW (FXACW)</strong>: Warrant component to trade after separation; value tied to stock price and deal timing.</li><li><strong>Polaris Advisory Partners (Kingswood Capital Partners) (N/A)</strong>: Sole book-running manager for the offering.</li><li><strong>FortuneX Investment Partners Limited (N/A)</strong>: Sponsor of the SPAC; potential influence on deal sourcing.</li><li><strong>Daniel M. McCabe (N/A)</strong>: Chairman/CEO/CFO of FortuneX; governance context for investors.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. It marks capital-raising via a SPAC IPO and sets the stage for future merger activity, with a regional focus that informs potential targets and regulatory considerations.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>IPO raised $75 million via 7.5 million units at $10.</li><li>Underwriters can buy up to 1.125 million additional units.</li><li>Warrants exercisable at $11.50; potential upside if a deal closes.</li><li>FXACU started trading May 22; FXAC/FXACW to list after separation.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>7,500,000 units offered at $10 per unit.</li><li>Total gross proceeds: $75 million.</li><li>Each unit includes one ordinary share and 0.5 redeemable warrant.</li><li>Warrant exercise price: $11.50 per share (subject to adjustment).</li><li>Underwriters&#039; overallotment option: up to 1,125,000 additional units.</li><li>Initial trading symbol FXACU; FXAC and FXACW expected to list after separation.</li><li>Trading began on Nasdaq May 22, 2026.</li><li>Registration statement Form S-1 declared effective May 19, 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>FXACU likely trades near $10 as it scouts a merger target over the next 12–24 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>NEW YORK, May  26, 2026  (GLOBE NEWSWIRE) -- FortuneX Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/FXACU">FXACU</a>, the "Company")) announced today that it closed its initial public offering ("IPO") of 7,500,000 units at an offering price of $10.00 per unit. The underwriters have a 45-day option from the date of the prospectus to purchase up to an additional 1,125,000 units from the Company at the IPO price to cover over-allotments, if any.</p>  <p>Each unit consisting of one ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one ordinary share at a price of $11.50 per share, subject to adjustment. The units are listed on The Nasdaq Global Market ("Nasdaq") and began trading under the ticker symbol "FXACU" on May 22, 2026. Once the securities comprising the units begin separate trading, the ordinary share and warrants are expected to be listed on Nasdaq under the symbols "FXAC" and "FXACW," respectively.</p>  <p>Polaris Advisory Partners, a division of Kingswood Capital Partners LLC, served as the sole book-running manager for the offering.</p>  <p>Celine and Partners, P.L.L.C. served as legal counsel to the Company. O'Melveny &amp; Meyers LLP served as legal counsel to Polaris Advisory Partners LLC. FortuneX Investment Partners Limited is the sponsor of the Company.</p>  <p>A registration statement on Form S-1 relating to the securities (File No. 333-295053) was previously filed with the Securities and Exchange Commission (&#34;SEC&#34;) and was declared effective by the SEC on May 19, 2026. This offering was made only by means of a prospectus forming part of the effective registration statement. Copies of the prospectus may be obtained on the SEC's website at <a href="https://www.globenewswire.com/Tracker?data=Hf1_OWg8p-lNSrAhGRcNMq5romgcTeYDbb6Y71OK6hk_Tu5ZvD9_ddI2jRWxBYmT1tt9GOM_PC8xyo7ogj_RYA==" rel="nofollow" target="_blank">http://www.sec.gov</a>.  Copies of the prospectus may be obtained, when available, by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, or by calling 212-487-1080 or emailing <a href="https://www.globenewswire.com/Tracker?data=7aNkZmJoKhyZFm_YtFQcqSIaTyWg_8fkYW65nQOo_te1sMbM0AHdSZIz3KrsjaXxRZBcctkV-jXgopUe7su_rdSmyUYS32ngXeAF1aUTzl0ZMlPUPvYWGv5VpMYhDhPi" rel="nofollow" target="_blank">Syndicate@kingswoodUS.com</a>. </p>  <p>This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</p>  <p><strong>About FortuneX Acquisition Corporation</strong></p>  <p>The Company is a blank check company incorporated in the Cayman Islands as an exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. While the Company intends to conduct a global search for potential targets without geographic limitations, its management team has experience investing in and building businesses across the Asia-Pacific region and possesses a strong understanding of the region's business environment, regulatory landscape and culture. The Company will not pursue an initial business combination with any entity based in, or having the majority of its operations in, Greater China. The Company is led by Mr. Daniel M. McCabe, the Company's Chairman, Chief Executive Officer and Chief Financial Officer.</p>  <p><strong>Forward-Looking Statements</strong></p>  <p>This press release contains statements that constitute "forward-looking statements," including with respect to the IPO and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, <a href="https://www.globenewswire.com/Tracker?data=OHP9HXM8NwEkYODyVRf54PI9bkhMznzCHKPBUq3IpegU-isMnYj-I1_2VZRn9VMyJYmkLCOJ0XQnADmHiV_xFQ==" rel="nofollow" target="_blank">www.sec.gov</a>. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.</p>  <p>Contact:<br></br>Yuya Orime<br></br>Senior Vice President<br></br>Polaris Advisory Partners<br></br>(650) 690-1751</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcyNjc4NiM3NjIxNjA5IzIzMTIwMzY="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/YjE4MTNlMTMtNzk0ZS00Y2M1LWJiNjUtYmM3ZjUyZjc5NGU5LTEzMjM1ODYtMjAyNi0wNS0yNi1lbg==/tiny/FortuneX-Acquisition-Corporati.png" referrerpolicy="no-referrer-when-downgrade"></img>

FortuneX Acquisition Corp completed its IPO, selling 7.5 million units at $10 each, raising about $75 million with a 45-day option for 1.125 million more. Each unit includes one ordinary share and half a warrant; warrants exercisable at $11.50. The SPAC will pursue a merger in the Asia-Pacific region, avoiding Greater China.

FortuneX Acquisition Corp Announces Closing of Initial Public Offering

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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