Future Money Acquisition, a blank check company targeting AI, Web3, and intelligent manufacturing, raised $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one right to receive one-fifth of one ordinary share upon the consummation of an initial business combination.
Future Money Acquisition is led by CEO and Chairman Siyu Li, the founder of Asia-based investment company FutureMoney Group, and a Senior Advisor of BTC Digital (Nasdaq: BTCT). He is joined by CFO and Director Steven Markscheid, the Managing Partner and sole member of Aerion Capital, and a director of several public SPACs.
The company’s Chairman and CEO is a citizen and resident of Canada, while the CFO is a US citizen; its board has three independent directors who are citizens of the US, Canada, and China.
The SPAC plans to target businesses in the AI, Web3, and intelligent manufacturing industries that are proven industry leaders, have multiple avenues for long-term growth, and have potential for add-on acquisitions, among other characteristics. The company does not intend to combine with a target primarily based in mainland China.
The San Francisco, CA-based company plans to list on the Nasdaq under the symbol FMACU. D. Boral Capital acted as sole bookrunner on the deal.
