FortuneX Acquisition, a blank check company targeting long term growth and defensible market positions, filed on Wednesday with the SEC to raise up to $75 million in an initial public offering.
The company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.
FortuneX Acquisition is led by CEO and Chairman Daniel McCabe, who is the founder of his own law practice, Daniel McCabe. He currently sits on the boards of four other SPACs. Three have pending merger agreements (QETA, +15% from $10 offer price; BKHA, +16%; QSEA, +4%), and one is still searching (YOTA; -80%).
While it hasn't selected a target industry or geography, the SPAC plans to focus on businesses in large underpenetrated markets with favorable industry dynamics and a strong management team.
The New York, NY-based company was founded in 2026. It plans to list on the Nasdaq under the symbol FXACU. Polaris Advisory Partners is the sole bookrunner on the deal.
