FTHA SEC filings, in plain English
Everything Forefront Tech Holdings has filed with the SEC that we hold — 25 filings, newest first, 23 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Quarterly report on Form 10-Q filed August 13, 2026 by Forefront Tech Holdings Acquisition Corp, a Cayman Islands blank-check company, for the quarter ended June 30, 2026. First quarterly report since the IPO. The filing shows the IPO closed May 1, 2026, with $100,300,000 deposited in the trust; the underwriters' over-allotment option expired unexercised on June 15, 2026; 500,000 Class B founder shares were forfeited, leaving 3,333,333 Class B shares; 5,000,000 public warrants and 185,000 private placement warrants are outstanding; and the company states it has not selected any specific business combination target. Why it matters: It establishes the redemption/timing baseline: the trust held $100,860,408, equal to $10.09 per public share for 10,000,000 Class A shares subject to possible redemption, and the company has an 18-month Completion Window from the May 1, 2026 IPO closing to complete a business combination. With no target announced and the over-allotment expired, the search clock is running and public shareholders have a confirmed per-share trust value.
trust account, redeemable shares, sponsor loans outstandingnothing moved · 3 with no prior record of ours
- Trust account
- not previously extracted$100.9M
- Redeemable shares
- not previously extracted10.0M
- Sponsor loans outstanding
- $25K · unchanged
The clause …“offering costs — 93,641 Long-term prepaid insurance 75,000 — Investments held in Trust Account 100,860,408 — Total Assets $ 102,139,364 $ 100,563 Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’”…
The clause “0,000 shares authorized; 370,000 and 0 shares issued and outstanding (excluding 10,000,000 and 0 shares subject to possible redemption) at June 30, 2026 and December 31, 2025, respectively 37 — Class B ordinary shares, $ 0.0001 par value;”…
The clause …“As of June 30, 2026 (unaudited) and December 31, 2025, there was $ 0 and $ 25,368 outstanding under the promissory note, respectively. The outstanding amount of $ 167,464 was repaid at the closing of the Initial Public Offering on”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: A routine compliance exhibit: a Schedule 13G Joint Filing Agreement authorizing four affiliated reporting persons to submit a single beneficial ownership report under Rule 13d-1(k) of the Securities Exchange Act of 1934. The text discloses no adjustment to share counts, ownership percentages, or transaction restrictions. It solely establishes an administrative filing conduit dated August 13, 2026, referencing a snapshot of beneficial ownership as of June 30, 2026. No modifications to FTHA’s redemption mechanics, trust value, extension requests, or target selection timeline are reported. Why it matters: Because the filing contains no commercial, technological, or financial assertions about Forefront Tech Holdings Acquisition Corp., it does not alter the referenced $10.09 per-share trust amount, the October 30, 2027 redemption deadline, or sponsor governance. The agreement was executed by Hayley Stein acting as attorney-in-fact for Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman. Without the accompanying Schedule 13G main page, the exhibit provides no actionable data on aggregate versus disaggregated holdings, voting intent, or redemption behavior, rendering it procedurally inert for tracker purposes.
What changed: A routine compliance exhibit (a Joint Filing Agreement attached to a Schedule 13G beneficial ownership report). The filing contains no share counts, percentage thresholds, or transaction terms. It solely establishes that Adage Capital Management, L.P., Robert Atchinson, and Phillip Gross will submit future amendments to this Schedule 13G collectively rather than filing separate forms. Consequently, there is no update to redemption deadlines, trust valuation mechanics, extension triggers, business combination progress, or sponsor conduct. The stated 2027-10-30 expiration window remains structurally unaffected by this submission. Why it matters: This is a standard procedural attachment under Rule 13d-1(k), executed and dated August 12, 2026, by Adage Capital Partners, L.L.C. (as general partner), Robert Atchinson, and Phillip Gross, acknowledging individual liability for their own disclosed information while eliminating redundant future filings. It provides no substantive data regarding customer concentration, revenue streams, market sizing, technology roadmaps, partnership arrangements, litigation exposure, or executive leadership changes. Investors tracking the search period should monitor subsequent Schedule 13D/G amendments or definitive merger proxies for actionable developments.
What changed: Schedule 13G beneficial ownership report [0001167557-26-000150] filed on 2026-08-12 listing AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC as the reporting entities. The filing contains no provisions altering the firm’s SEARCH status, makes no reference to the reported trust value of $10.09 per share, cites neither the 2027-10-30 liquidation deadline nor any extension mechanism, and discloses no developments regarding target identification, combination timeline, or sponsor conduct. As a standard Section 13(d) disclosure, it tracks cumulative equity position rather than operational or structural changes. Why it matters: For investors tracking redemption windows and trust preservation, this submission confirms that AQR-affiliated accounts maintain a concentrated position warranting public disclosure, which historically correlates with merger-arbitrage positioning or pre-deadline portfolio rebalancing. The document contains no executive commentary, customer metrics, revenue estimates, addressable market calculations, technology roadmaps, commercial partnership declarations, litigation exposure details, or personnel moves. Because it supplies no specific share quantities, percentage thresholds, or forward-looking statements directed at trust distribution timing, the filing serves as a transparency marker for large-holder concentration rather than a driver of near-term redemption pressure or deal progression.
What changed: A Form 8-K current report and accompanying Exhibit 99.1 press release dated June 18, 2026. The filing announces that commencing June 22, 2026, holders of the initial public offering Units may elect to separately trade the embedded securities, causing separated shares to trade as FTHA and separated warrants as FTHAW on the Nasdaq Global Market tier while unseparated Units continue as FTHAU. According to the registrant, this administrative separation requires shareholders to direct their brokers to contact Odyssey Transfer and Trust Company to effect the split. The document specifies that each Unit comprises one Class A ordinary share with a par value of $0.0001 per share and one-half of one redeemable warrant, noting that no fractional warrants will be issued and each whole warrant permits purchase of one Ordinary Share at $11.50 per share. The filing contains no disclosure regarding trust account balances, redemption pricing, extension proposals, deadline adjustments, deal execution status, or changes in sponsor conduct. Why it matters: Beyond the mechanical trading change, the press release outlines the Company’s stated acquisition thesis: according to the registrant, it will focus on technology sector targets with emphasis on blockchain-enabled artificial intelligence, digital trade identities, and robotics, expecting to serve platforms operating in Southeast Asian nations and regional cross-border corridors. Next Lion Sponsor Holdings LLC is identified by the Company as the sponsor. Chairman and Chief Executive Officer Peter Bilitsch executed the report on June 18, 2026, but no material developments regarding revenue generation, customer contracts, market sizing, partnership agreements, ongoing litigation, or personnel departures are disclosed. For investors tracking redemption windows and trust distributions, this filing confirms only that post-offering structural liquidity has been enabled, carrying no direct impact on redemption mechanics, shareholder voting mandates, or the obligation to complete a business combination before the stated deadline.
What changed: 10-Q quarterly report for the period ended March 31, 2026, filed by Forefront Tech Holdings Acquisition Corp., a blank-check company that had not yet completed its initial public offering as of the balance sheet date. No business combination target has been selected or announced. The SPAC remained a pre-IPO shell through March 31, 2026. All material changes occurred subsequent to quarter end: on May 1, 2026, the company consummated its IPO of 10,000,000 units at $10.00 each, depositing $100,300,000 ($10.03 per unit) into trust, and simultaneously issued 370,000 private placement units to the sponsor and BTIG for $3,700,000. The sponsor's promissory note of $167,464 was repaid. The company now has an 18-month deadline from the IPO closing (approximately October 30, 2027) to complete a business combination. No extension provisions or target discussions are disclosed. Why it matters: This filing establishes the baseline financial position of the SPAC and confirms key terms for shareholders: trust value per share ($10.03, not $10.09 as in some market data), deadline period, sponsor commitment (promissory note repayment, private placement purchase of 355,000 units), and the absence of any target or letter of intent. It also discloses that the company has not engaged in substantive discussions with any business combination target as of March 31, 2026, indicating it is in the early search stage. The filing includes standard redemption mechanics, warrant terms, and sponsor conduct provisions.
What changed: Form 8-K Current Report confirming the consummation of an initial public offering, accompanied by Exhibit 99.1, an audited balance sheet as of May 1, 2026. According to the 8-K filed by the registrant, Forefront Tech Holdings Acquisition Corp closed its IPO on May 1, 2026, selling 10,000,000 public Units at $10.00 per Unit for $100,000,000 in public proceeds, plus a simultaneous private placement of 370,000 units to Next Lion Sponsor Holdings LLC and BTIG, LLC for $3,700,000. The filing establishes a $100,300,000 initial Trust Account ($10.03 per share), locks in an 18-month Completion Window to consummate a Business Combination, and records $3,000,000 in deferred underwriting fees payable only upon combination. The registrant states it has not selected a target and has engaged in no substantive discussions. Sponsor Next Lion Sponsor Holdings LLC purchased 355,000 private units, holds 3,833,333 founder shares, and agreed via letter agreement to waive redemption rights on those shares, vote in favor of a combination, and remain liable to replenish the Trust Account if third-party claims reduce it below the lesser of $10.00 per share or the actual per-share trust balance. An administrative services agreement commits up to $10,000 per month to the Sponsor. A 45-day over-allotment option for up to 1,500,000 additional units remains open, carrying a recorded liability of $78,900. The filing also details warrant mechanics (5,000,000 public and 185,000 private warrants, $11.50 exercise price, exercisable 30 days post-combination, expiring five years later, with a $18.00 per share redemption trigger) and notes zero working capital loans were outstanding as of May 1, 2026. Why it matters: This filing replaces uncertainty with hard mechanics for redemption pricing and timeline investors rely on. The $10.03 per-share trust valuation and explicit 18-month deadline establish the baseline expectations for holder redemption calculus and signal no immediate extension voting is imminent. Disclosing zero targets and zero substantive negotiations confirms the blank-check status while the Sponsor’s indemnity obligation and $3,000,000 deferred discount clarify post-combination dilution and sponsor alignment. The unexercised over-allotment option and defined warrant expiry/trigger thresholds provide options traders exact parameters for volatility and settlement scenarios. Management’s stated intention to focus on the technology industry, combined with the Cayman Islands jurisdiction and emerging growth company status, frames the regulatory and tax environment for any future target acquisition.
What changed: SEC Form 4 insider ownership report documenting an open-market share acquisition by a designated 10% owner. The filing records that Next Lion Sponsor Holdings LLC, identified as a 10% owner, acquired 355,000 shares on 2026-05-01 via open-market transaction, resulting in a reported post-transaction holding of exactly 355,000 shares. This shifts insider equity distribution but does not alter the SPAC’s trust per-share value ($10.09), redemption deadline (2027-10-30), extension mechanisms, or merger progression, as the issuer remains in SEARCHING status with no target identified or deal structure disclosed. Why it matters: Open-market sponsor purchases during the pre-merger period can adjust circulating float and voting weight without activating redemption triggers or reallocating trust assets. Because the Form 4 contains only raw transaction volume, execution date, and current holder identity, it presents no assertions regarding customer commitments, revenue forecasts, market sizing, technology roadmaps, partnership terms, litigation exposure, or personnel changes. According to the filing’s own data, all positional claims are attributed exclusively to Next Lion Sponsor Holdings LLC, and the document introduces no new commercial or structural terms for investors tracking the redemption calendar, trust value, or sponsor conduct beyond this equity accumulation.
What changed: This is a Form 8-K Current Report filed by Forefront Tech Holdings Acquisition Corp to report the consummation of its initial public offering (IPO) on May 1, 2026, and the execution of related agreements. The SPAC completed its IPO of 10,000,000 units at $10.00 per unit, generating $100,000,000 in gross proceeds. Simultaneously, it completed private placements of 355,000 units to the sponsor Next Lion Sponsor Holdings LLC, generating $3,550,000, and 15,000 units to underwriter BTIG, LLC, generating $150,000. A total of $103,700,000 from the IPO and private placements was placed into a trust account. The trust balance per unit is $10.37 ($103,700,000 / 10,000,000 public shares), which is above the trust/share figure provided. The deadline to complete a business combination is 24 months from the closing of the IPO (May 1, 2028), as the filing states the trust will be released if no business combination is completed within 24 months. The sponsor holds 3,833,333 founder shares (Class B), up to 500,000 of which are subject to forfeiture depending on underwriter over-allotment exercise. Key agreements filed include the underwriting agreement, warrant agreement, letter agreement, investment management trust agreement, and registration rights agreement. The press release states the SPAC intends to focus on target businesses in the technology sector, with an emphasis on blockchain-enabled artificial intelligence, digital trade identities and robotics. Why it matters: This filing marks the SPAC's transition from a shell company to a public operating entity with a funded trust, starting the 24-month clock to find and close a de-SPAC transaction. For investors tracking redemption mechanics, the per-share trust value is $10.37, the deadline is May 1, 2028, and the sponsor structure (founder shares, forfeiture mechanism, lock-up) is now fully established. The stated target focus (blockchain AI, digital trade identities, robotics) provides a strategic framing for potential future targets.
What changed: Final prospectus for initial public offering (424B4) of Forefront Tech Holdings Acquisition Corp, a blank check company. The SPAC is now public. It raised $100M from 10M units at $10/unit; trust will hold $100.3M ($10.03/share); deadline is 18 months from closing (~Oct 2027); sponsor holds 3.83M founder shares at ~$0.007/share; CEO previously led Mobiv which had 93% redemption and target now trades at $0.023. Why it matters: Establishes trust value, redemption mechanics, and deadline. Investors can now track redemption triggers and deal progress. Significant dilution risk from founder shares and prior SPAC performance indicate potential for high redemptions.
What changed: A Form 3 insider ownership report filed on 2026-04-29, documenting initial securities holdings of a reporting officer. The filing records that Muk Siew Peng, director and Chief Financial Officer, had 'No non-derivative transactions or holdings reported.' This confirms no adjustment to insider equity positions, meaning there is no shift in sponsor conduct or personal capital deployment that would signal movement toward a merger or affect extension dynamics. It does not alter the redemption calendar, trust liquidation procedures, or the company's current searching status. Why it matters: The document contains no substantive claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel beyond identifying the reporting executive. The sole factual assertion—that the CFO/director holds or traded nothing registrable—is attributed directly to the issuer's April 29, 2026 regulatory submission. For investors who track whether management is accumulating shares ahead of target identification, scaling back exposure prior to a redemption deadline, or signaling financial comfort during a potential extension vote, this zero-activity disclosure yields no new directional data. It operates strictly as a statutory inventory rather than a forward-looking operational indicator.
What changed: SEC Form 3 Statement of Changes in Beneficial Ownership. Director Vittorio Furlan filed an initial insider ownership disclosure dated April 29, 2026 (reference 0001213900-26-049608) for Forefront Tech Holdings Acquisition Corp., explicitly reporting zero non-derivative transactions and zero current non-derivative holdings. Why it matters: The filing does not amend the acquisition agreement, extend the business combination deadline, adjust the per-share trust balance, or provide updates on target screening or due diligence. It fulfills routine Section 16 registration for a director without altering insider equity exposure. During the SEARCH phase, the absence of reported purchases, sales, or derivative positions yields no directional signal on sponsor capital alignment, lock-up intent, or redemption mechanics beyond confirming ongoing regulatory compliance.
What changed: An SEC Form 3 initial statement of beneficial ownership filed by Director and Chief Executive Officer Peter Bilitsch for Forefront Tech Holdings Acquisition Corp. According to the Form 3 submitted by Bilitsch, he reported “No non-derivative transactions or holdings.” This clearance of disclosed trades or established positions means no insider capital was purchased, sold, or pledged, leaving redemption mechanics, trust accounting procedures, and the stated business combination deadline unaffected by new sponsor equity activity. Why it matters: Investors tracking sponsor conduct and deal velocity will note that this baseline disclosure indicates the chief executive has not taken a foundational personal stake or demonstrated private-market conviction through share acquisition. Because the filing contains zero transactional data, it neither advances target pursuit, mandates extension votes, nor alters trust distribution schedules. The document functions as a static transparency record, preserving all redemption calendars and merger parameters until subsequent filings announce structural amendments or specific business combinations.
What changed: A Form 3 insider ownership report for Forefront Tech Holdings Acquisition Corp, identifying Director Lee Chui Sum as the reporting person and formally documenting initial Section 16 equity holdings status. Nothing changed regarding SPAC mechanics. The filing explicitly states 'No non-derivative transactions or holdings reported,' confirming no movement in insider positions that would impact redemption pressure, trust value dynamics, extension schedules, merger targeting, or sponsor governance behavior. Why it matters: While the report bears no direct claims about customers, revenue, market size, technology, partnerships, litigation, or corporate strategy, its primary function is establishing a compliance baseline for director-level security tracking ahead of the company’s continued search for a business combination target. For investors monitoring the firm’s path to its stated deadline and maintaining a wait-and-see posture over prevailing trust valuations, this routine administrative update signals no shift in insider conviction, liquidity needs, or strategic positioning. All operational and valuation metrics remain static pending future deal announcements or regulatory updates.
What changed: This document is a Form 8-A filing submitted to register specific classes of securities—units, Class A ordinary shares, and warrants—pursuant to Section 12(b) of the Securities Exchange Act of 1934. Attributed to the Registrant, the filing officially registers these classes for quotation on the Nasdaq Stock Market LLC Global Market tier and does not alter the $10.09 per share trust account, the 2027-10-30 liquidation deadline, or the SEARCHING operational status. Concerning deal mechanics and sponsor conduct, the Registrant specifies that whole warrants permit the purchase of one Class A ordinary share at $11.50 per share, that exercisability begins 30 days after the initial business combination closes, and that warrants expire five years after that closing or earlier upon redemption or liquidation. The filing attributes no merger timeline shifts, extension proposals, or shareholder voting requirements to management or directors during this reporting period. Why it matters: Beyond establishing Nasdaq listing qualification, the document does not disclose revenue forecasts, market sizing, technology roadmaps, customer contracts, strategic partnerships, or pending litigation. The warrant parameters ($11.50 strike, 30-day post-closing restriction, five-year expiration, early liquidation/redemption triggers) defined by the Company dictate future capital table dilution and payout sequencing once a Business Combination Agreement executes. Attributed to Chief Executive Officer Peter Bilitsch, the April 29, 2026 signature block confirms current executive authorization for the registered securities, but the Registrant provides no commentary on target screening progress or sponsor governance adjustments. Consequently, while procedurally mandatory for exchange listing, the filing carries no independent force over the redemption window, trust disbursement schedule, or extension calendar, making it a routine compliance exhibit rather than a catalyst for immediate investor action.
What changed: Form 3 — insider ownership report. The filing states there are 'No non-derivative transactions or holdings reported' by director Stephan Roderick Charles. There are no mechanical adjustments to insider equity positions, sponsor conduct indicators, redemption deadline pacing, trust accounting allocations, extension voting triggers, or target discovery negotiations. Why it matters: As a routine Section 16 compliance instrument, this filing locks in a verified baseline for the director’s registered status during the SEARCHING phase. For investors monitoring sponsor and leadership alignment, the explicit absence of acquisitions or dispositions provides a clean benchmark against which future insider buying, selling, or pledging will be weighed as deal-progress signals. The document contains no substantive assertions regarding customer relationships, revenue recognition, market sizing, operational strategy, intellectual property, alliance structures, legal exposures, or personnel changes beyond the reporter’s disclosed title and the issuer name.
What changed: Routine compliance exhibit: SEC Form 3 insider ownership report. Next Lion Sponsor Holdings LLC, identified in the filing text as a 10% owner, states via the Form 3 submission that there were 'No non-derivative transactions or holdings reported.' The document does not adjust trust balance mechanics, redemption price floors, extension voting windows, target diligence milestones, or sponsor compensation structures. All assertions regarding static ownership and unchanged equity movements originate directly from the reporting person's declaration. Why it matters: For investors tracking sponsor conduct and capital preservation during a SEARCHING phase, this zero-activity report confirms the foundational owner has not purchased, sold, or converted securities through the public market between reporting cycles. An unaltered 10% position preserves the original sponsor-to-public share ratio anticipated at a future business combination, meaning no hidden liquidity events or private-capital injections have shifted the pro-forma ownership math. The filing contains no substantive claims regarding customer contracts, revenue streams, addressable market estimates, strategic pivots, proprietary technology, partnership announcements, active litigation, or executive appointments beyond the mandatory registrant and filer identifiers.
What changed: SEC Rule 461 correspondence requesting acceleration of effectiveness for Form S-1 Registration Statement (File No. 333-293592) for Forefront Tech Holdings Acquisition Corp. Chief Executive Officer Peter Bilitsch submitted the letter on April 27, 2026, to accelerate the S-1 effective date to 4:30 p.m. ET on Wednesday, April 29, 2026, or at another time requested by telephone by the Company or outside counsel Winston & Strawn LLP (Michael J. Blankenship). The filing contains no updates to redemption schedules, trust account mechanics, extension votes, or business combination targets. The SPAC’s SEARCHING status and stated liquidation timeline remain unaffected by this procedural submission. Why it matters: Accelerating the S-1 to 4:30 p.m. ET on Wednesday, April 29, 2026, initiates the listing sequence required before public shares trade, trust funds deploy, or any future redemption windows open. Because CEO Bilitsch’s communication focuses exclusively on regulatory timing under Rule 461, it indicates standard pre-IPO housekeeping rather than active deal pursuit or sponsor financial maneuvers. Investors monitoring the path to completion should treat the April 29, 2026 mark as the launch baseline preceding all subsequent business combination, extension, or termination mechanics.
What changed: A routine regulatory correspondence (Rule 461 request) seeking acceleration of a Form S-1 effective date, paired with a Rule 460 underwriter distribution notice and 15c2-8 compliance statement. Per the filers—the Company and BTIG, LLC represented by Paul Wood—the registration statement’s effective date is requested to accelerate to 4:30 p.m. ET on April 29, 2026. BTIG, LLC confirmed it will distribute copies of the proposed preliminary prospectus to underwriters or dealers to secure adequate distribution and will continue complying with Rule 15c2-8. The document reports zero changes to redemption deadlines, trust fund accounting, extension provisions, business combination progress, or sponsor governance, reflecting the SPAC’s publicly disclosed SEARCHING status. Why it matters: This administrative acceleration determines when the initial public offering will close, which directly dictates when net proceeds first deposit into the trust account and establishes the baseline for the already-disclosed $10.09 per-share trust value. Because the filing occurs prior to identifying a merger candidate, it does not activate shareholder redemption windows, trigger trust distribution mechanics, alter the announced October 30, 2027, termination deadline, or modify sponsor promote structures. Beyond the acceleration request and distribution protocols, the text contains no assertions about customers, revenue streams, addressable markets, technological capabilities, strategic alliances, ongoing litigation, or executive personnel appointments. All operational steps and regulatory citations are attributed exclusively to the Company and BTIG, LLC acting under Securities Act authorities.
What changed: Amendment No. 1 to a Registration Statement on Form S-1 for a SPAC initial public offering. This is the first amendment to the S-1, updating the prospectus with a preliminary prospectus dated April 23, 2026. It sets the proposed public offering price at $10.00 per unit for 10,000,000 units ($100,000,000 gross), with a trust of $100,300,000 ($10.03 per share). It finalizes sponsor details (Next Lion Sponsor Holdings LLC), BTIG as sole bookrunner, a 45-day over-allotment option for up to 1,500,000 additional units, and a 18-month deadline from closing to complete a business combination. The document provides a full prospectus including updated dilution tables showing a positive net tangible book value of $7.19 and $7.18 per share at 0% redemption for full and no over-allotment, respectively. Why it matters: This filing provides the complete, updated terms of the SPAC's IPO for investors to evaluate. Key mechanics: (1) Redemption rights are provided for public shareholders in connection with business combination approval or a charter amendment, with a 15% cap on redemptions for holders acting in concert without prior consent if a shareholder vote is held; (2) Trust value is $10.03 per public share; (3) The completion deadline is 18 months from closing of the offering, with unlimited potential extensions subject to shareholder approval and redemption rights; (4) The company has not selected a target; (5) The CEO, Peter Bilitsch, previously sponsored Mobiv Acquisition Corp, which saw 93% shareholder redemptions and the post-business combination company (SRIVARU) trades at $0.048; (6) Sponsor paid $0.007 per founder share, creating significant dilution risk for public shareholders.
What changed: Registration statement (Form S-1) for an initial public offering by Forefront Tech Holdings Acquisition Corp, a blank-check company seeking to raise $100 million by selling 10 million units at $10 each. This is a new filing by a newly formed SPAC that is just beginning its IPO process. There are no updates regarding a business combination target, redemption deadlines, trust value changes, extensions, or deal progress because the company is still in the searching phase and has not yet completed its offering. Why it matters: This filing is important because it establishes the initial terms of the SPAC's IPO. It details the basic mechanics investors will need: a $10.00 per-unit price, a 24-month deadline to complete a business combination, the trust structure held by Odyssey Transfer and Trust Company, the founder shares and private unit purchases by sponsor Next Lion Sponsor Holdings LLC, and the standard redemption and liquidation provisions. It also signals the company's focus on technology targets and highlights potential conflicts of interest between the sponsor and public shareholders.
What changed: SEC Division of Corporation Finance correspondence declining to review a draft registration statement and mandating 15-day advance public filing. This document is an SEC Division of Corporation Finance letter advising that the staff does not intend to review the draft registration statement on Form S-1 submitted December 12, 2025, and instructing the registrant to publicly file all drafts at least 15 days prior to any road show or requested effective date under Rules 460 and 461. Regarding mechanics, the SEC’s decision to skip the draft comment period advances deal progress by removing a typical timeline bottleneck, while placing sole liability for disclosure accuracy on Chief Executive Officer Peter Bilitsch and management. The filing leaves the $10.09 trust value per share and the October 30, 2027 deadline unchanged. Concerning other substance, the correspondence contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; all directives originate exclusively from the Office of Real Estate & Construction, citing contact Stacie Gorman at 202-551-3585 and copying counsel Michael J. Blankenship, Esq. Why it matters: Bypassing SEC draft review compresses the pre-combination schedule, meaning shareholder redemptions will be priced against updated net asset values closer to the effective date rather than during a prolonged review cycle. With no SEC vetting of disclosures, investors face unfiltered management statements ahead of any road show, which can amplify volatility and force sponsors to manage extension expectations more aggressively. The absence of operational or financial claims means fundamental valuation metrics remain unknown until the next public filing. Confidence is anchored to the explicit regulatory language and CIK reference 0002097986.
What changed: Draft registration statement on Form S-1 for an initial public offering of a blank check company (SPAC) — Forefront Tech Holdings Acquisition Corp — seeking to raise $100 million by selling 10 million units at $10.00 per unit, each unit consisting of one Class A ordinary share and one-half of one redeemable warrant. This is the initial confidential draft registration statement, filed December 11, 2025, and not yet publicly effective. It establishes the terms of the proposed IPO: trust deposit of $10.00 per unit ($100 million total, or $115 million if over-allotment exercised), a 24-month deadline to complete a business combination from the closing of the offering, sponsor founder shares purchased at $0.007 per share, private placement of 340,000 units at $10.00 per unit to sponsor, and standard redemption rights for public shareholders. No business combination target has been identified. Why it matters: This is the foundational document for a new SPAC. Investors need to know the trust value ($10.00 per share), the redemption mechanics, the deadline (24 months from closing), the sponsor's low cost basis creating potential dilution and conflicts, and the focus areas (blockchain-enabled AI, digital trade identities, robotics). The filing also discloses that the sponsor's prior SPAC (Mobiv) experienced 93% redemptions and its target now trades at $0.048, a cautionary note.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.