EX-99.1 2 fortunexacq_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

Unaudited Pro Forma Balance Sheet as of May 29, 2026   F-2
Notes to Unaudited Pro Forma Financial Statement   F-3

 

F-1

 

 

FORTUNEX ACQUISITION CORPORATION

UNAUDITED PRO FORMA BALANCE SHEET

May 29, 2026

 

    May 26,
2026		     Pro Forma
Adjustments		           As
Adjusted		  
          (Unaudited)           (Unaudited)  
Assets                              
Current Assets                              
Cash   $ 1,102,515     $ (149,650 )   (b)     $ 952,865  
Advance – related party     53,900       131,100     (c)       185,000  
Prepaid expenses     15,000       13,170     (c)       13,170  
              (15,000 )   (k)          
Total Current Assets     1,171,415       (20,345 )           1,151,035  
                               
Cash and investments held in Trust Account     75,750,000       11,250,000     (a)       87,148,790  
              149,625     (b)          
              (37,125 )   (d)          
              36,290     (e)          
Deferred offering costs     -       37,125     (d)       -  
              562,500     (g)          
              (599,625 )   (j)          
Total Assets   $ 76,921,415     $ 11,378,410           $ 88,299,825  
                               
Liabilities, Ordinary Shares Subject to Redemption and Shareholders’ Deficit                              
Current Liabilities                              
Accounts payable and accrued expenses   $ 14,260     $ (5,320 )   (c)     $ 10,390  
              1,450     (f)          
Over-allotment option liability     102,787       (102,787 )   (h)       -  
Total Current Liabilities     117,047       (106,657 )           10,390  
                               
Deferred underwriting fee payable     3,750,000       562,500     (g)       4,312,500  
Total Liabilities     3,867,047       455,843             4,322,890  
                               
Commitments and Contingencies (Note 6)                              
                               
Ordinary shares subject to possible redemption, $0.0001 par value, 500,000,000 shares authorized, 7,500,000 shares and 8,625,000 shares at redemption value of $10.10 and $10.10 per share, as actual and adjusted, respectively     75,750,000       11,250,000     (a)       87,148,790  
              36,290     (e)          
              112,500     (i)          
Shareholders’ Deficit                              
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 3,991,929 shares and 4,006,929 shares issued and outstanding, as actual and adjusted, respectively (excluding 7,500,000 shares and 8,625,000 shares subject to possible redemption, as actual and adjusted, respectively)     400       1     (c)       401  
Accumulated deficit     (2,696,032 )     (25 )   (b)       (3,172,256 )
              (25 )   (c)          
              112,489     (c)          
              37,125     (c)          
              (36,290 )   (e)          
              (599,625 )   (j)          
              36,290     (e)          
              102,787     (h)          
              (112,500 )   (i)          
              (1,450 )   (f)          
              (15,000 )   (k)          
Total Shareholders’ Deficit     (2,695,632 )     (476,223 )           (3,171,855 )
Total Liabilities, Ordinary Shares Subject to Redemption and Shareholders’ Deficit   $ 76,921,415     $ 11,378,410           $ 88,299,825  

 

The accompany notes are an integral part of the unaudited pro forma financial statement.

 

F-2

 

 

FORTUNEX ACQUISITION CORPORATION
NOTES TO UNAUDITED PRO FORMA FINANCIAL STATEMENT

 

Note 1 — Closing of Over-allotment Option and Additional Private Placement Units

 

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of FortuneX Acquisition Corporation (the “Company”) as of May 26, 2026, adjusted for the closing of the underwriters’ over-allotment option and related transactions which occurred on May 29, 2026 as described below.

 

On May 26, 2026, the Company consummated its initial public offering (“IPO”) of 7,500,000 units (the “Units” and, with respect to the ordinary shares included in the Units being offered, the “Public Shares”) at an offering price of $10.00 per Unit generating gross proceeds of $75,000,000. Simultaneously with the closing of the IPO, the Company consummated a private placement (the “Private Placement”) in which FortuneX Investment Partners Limited (the “Sponsor”) purchased 297,500 units (the “Private Placement Units”) at a price of $10.00 per Private Placement Unit, generating total gross proceeds of $2,975,000.

 

The Company granted the underwriters a 45-day option to purchase up to an additional 1,125,000 Units (the “Option Units”) at $10.00 per unit to cover over-allotments, if any. On May 27, 2026, the underwriters notified the Company of their exercise of the over-allotment option in full to purchase 1,125,000 additional units (the “Option Units”) at $10.00 per unit. The closing of the issuance and sale of the Option Units occurred on May 29, 2026, generating total gross proceeds of $11,250,000. Simultaneously with the closing of the over-allotment option, the Company consummated the private placement of an aggregate of 15,000 Private Placement Units to the Sponsor, at a price of $10.00 per Private Placement Unit, generating gross proceeds of approximately $150,000.

 

A total of $87,112,500 ($10.10 per Unit) of the net proceeds from the sales of Units in the IPO, the Option Units and the Private Placements Unit on May 26, 2026 and May 29, 2026, were placed in a trust account with Continental Stock Transfer& Trust acting as trustee.

 

F-3

 

 

Pro forma adjustments to reflect the sales of the Option Units and additional Private Placement Units described above are as follows:

 

Pro Forma Entries   Debit     Credit  
(a) Cash and investments held in Trust Account   $ 11,250,000          
  Ordinary share subject to possible redemption           $ 11,250,000  
  To record the sale of 1,125,000 Option Units at $10.00 per Unit                
                   
(b) Cash and investments held in Trust Account   $ 149,625          
  Bank fee     25          
  Cash           $ 149,650  
  To record the transfer of cash account to Trust account for trust overfunding and payment of underwriting commission                
                   
(c) Advance – related party   $ 131,100          
  Bank fee     25          
  Accrued administrative expense     5,320          
  Prepaid administrative fee     13,170          
  Ordinary share – non redeemable           $ 1  
  Accumulative deficit             112,489  
  Accumulative deficit             37,125  
  To record trust overfunding of $.10/unit x1,125,000 units and underwriter cash commission ($11,250,000.00 x 0.33%), and amounts due from sponsor were offset by D&O insurance to be purchased by the sponsor and prepayment of administrative fees                
                   
(d) Deferred offering costs   $ 37,125          
  Cash and investments held in Trust Account           $ 37,125  
  To record payment of underwriting commission ($11,250,000.00 x 0.33%)                
                   
(e) Cash and investments held in Trust Account   $ 36,290          
  Interest earned in investments held in Trust Account           $ 36,290  
  Accumulative deficit   $ 36,290          
  Ordinary share subject to possible redemption           $ 36,290  
  To record interest earned in Trust Account and to reclass interest income to temporary equity                
                   
(f) Administrative expense   $ 1,450          
  Accrued administrative expenses           $ 1,450  
  To record three days (May 27 to May 29, 2026) of administrative expense                
                   
(g) Deferred offering costs   $ 562,500          
  Deferred underwriting commission payable           $ 562,500  
  To record deferred underwriting commission (5% of the sale of Option Units proceeds)                
                   
(h) Over-allotment liability   $ 102,787          
  Accumulative deficit           $ 102,787  
  To reverse over-allotment option liability                
                   
(i) Accumulative deficit   $ 112,500          
  Ordinary share subject to possible redemption           $ 112,500  
  To reclass trust overfunding to temporary equity                
                   
(j) Accumulative deficit   $ 599,625          
  Deferred offering costs           $ 599,625  
  To record the charge of deferred offering costs to permanent equity                
                   
(k) Professional fees - audit   $ 15,000          
  Prepaid expenses           $ 15,000  
  To record audit fees and reclassify from prepaid expense                

 

F-4