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Forefront Tech Holdings Acquisition CorpFTHA

Class A FTHAUnits FTHAUWarrants FTHAWCIK 0002097986

Cash in trust

$100.9M

$100,860,408

Trust per share

$10.09

Redemption value

IPO

May 2026

Combination deadline

Nov 1, 2027

423 days remaining

Filings on record

25

Latest Aug 13, 2026

Overview

Forefront Tech Holdings Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002097986. It completed its initial public offering in May 2026 and listing on Nasdaq. Class A shares trade under the ticker FTHA, units under FTHAU, warrants under FTHAW on Nasdaq. The vehicle is sponsored by Next Lion through Next Lion Sponsor Holdings LLC. The mandate targets generalist. IPO closed, trust funded, no definitive agreement announced.

We intend to focus on businesses that complement our management team’s background, and to capitalize on the ability of our management team to identify and acquire a business.
The mandate, as stated in the IPO prospectus

Reading the filings

Arithmetic on what Forefront Tech Holdings Acquisition Corp has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.

  • Trading at a discount to trust

    At $9.97 the shares change hands 1.19% below the $10.09 they can be redeemed for. A holder buying here is paid that spread to carry deadline and redemption risk until the vote, and the trust keeps accreting underneath it.

  • Trust versus the $10 unit

    The trust holds $10.09 per public share, 0.9% above the $10.00 the units were sold at. That spread is accrued interest on the trust and, where the charter provides for it, sponsor contributions paid in to buy more time. It is the floor a public shareholder can redeem at, not a valuation of the business.

  • Time on the clock

    423 days to the Nov 1, 2027 deadline. The vehicle is early in its search window, and the deadline is not yet the binding constraint.

  • Sponsor record

    Next Lion has launched 2 vehicles, none of which has resolved yet, so there is no completion record to read.

  • Underwriting

    BTIG led the offering. It has been named on 68 SPAC IPOs, book-running 63 of them, and 13.8% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.

Scores

Recomputed 4m ago

Three readings of Forefront Tech Holdings Acquisition Corp, each an unweighted mean of the components shown beneath it, and each component a percentile against every live SPAC rather than an absolute we invented. They describe the setup, not the merit. How they are built

Edge

Elevated

How much does the structure protect a holder right now?

60/100

  • Discount to trust92

    1.19%

  • Trust accretion27

    $10.09 per share

  • Runway61

    423 days

Edge reads the setup, not the business. A vehicle can score well on protection and still be a poor place to leave money once a deal closes.

FOMO

Moderate

How much attention is this vehicle attracting right now?

26/100

  • Filing activity69

    4 in 30 days

  • News coverage0

    0 stories in 30 days

  • Premium to trust8

    -1.19%

Attention is not quality. FOMO rises on news volume and on the market paying above trust, both of which have preceded plenty of disappointments.

Potential

Moderate

How likely is this vehicle to complete a combination, and at what scale?

43/100

  • Lead bank record45

    13.8%

  • Bank franchise70

    68 SPAC mandates

  • Trust scale19

    $101M

  • Stage40

    searching

Potential is about execution, not about the target. It says nothing about whether the eventual deal is worth owning, because the target is usually unknown when the score is computed.

These are derived measures, not ratings of investment merit. They carry no view on the target, no price target and no recommendation, and a high score is not a reason to buy anything.

SEC filing history

Free tier: filings older than 24 hours
  • 10-Q

    Quarterly report

    Accession 0001213900-26-089208

    Aug 13, 2026

    21d ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0001104659-26-095318

    Aug 13, 2026

    22d ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0001167557-26-000150

    Aug 12, 2026

    23d ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0000919574-26-004992

    Aug 12, 2026

    23d ago

    Open filing
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001213900-26-070136

    Jun 18, 2026

    2mo ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001213900-26-068796

    Jun 15, 2026

    2mo ago

    Open filing
  • 8-K

    Other events

    Items 8.01, 9.01 · Accession 0001213900-26-053418

    May 7, 2026

    3mo ago

    Open filing
  • 4

    Statement of changes in beneficial ownership

    Accession 0001213900-26-052511

    May 6, 2026

    4mo ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Other events

    Items 1.01, 3.02, 8.01, 9.01 · Accession 0001213900-26-052180

    May 5, 2026

    4mo ago

    Open filing
  • 424B4

    Final IPO prospectus

    Accession 0001213900-26-050604

    May 1, 2026

    4mo ago

    Open filing
  • EFFECT

    Notice of effectiveness

    Accession 9999999995-26-001379

    Apr 30, 2026

    4mo ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-049611

    Apr 30, 2026

    4mo ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-049609

    Apr 30, 2026

    4mo ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-049610

    Apr 30, 2026

    4mo ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-049606

    Apr 30, 2026

    4mo ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-049608

    Apr 30, 2026

    4mo ago

    Open filing
  • 3

    Initial statement of beneficial ownership

    Accession 0001213900-26-049607

    Apr 30, 2026

    4mo ago

    Open filing
  • CERT

    Exchange listing certification

    Accession 0001354457-26-000390

    Apr 29, 2026

    4mo ago

    Open filing
  • 8-A12B

    Registration of securities on an exchange

    Accession 0001213900-26-049145

    Apr 29, 2026

    4mo ago

    Open filing
  • CORRESP

    Correspondence with SEC staff

    Accession 0001213900-26-048088

    Apr 27, 2026

    4mo ago

    Open filing
  • CORRESP

    Correspondence with SEC staff

    Accession 0001213900-26-048087

    Apr 27, 2026

    4mo ago

    Open filing
  • S-1/A

    Amended IPO registration statement

    Accession 0001213900-26-047156

    Apr 23, 2026

    4mo ago

    Open filing
  • S-1

    Registration statement for the initial public offering

    Accession 0001213900-26-018432

    Feb 19, 2026

    6mo ago

    Open filing
  • UPLOAD

    SEC staff comment letter

    Accession 0000000000-26-000850

    Jan 27, 2026

    7mo ago

    Open filing
  • DRS

    Draft registration statement (confidential)

    Accession 0001213900-25-120895

    Dec 12, 2025

    8mo ago

    Open filing

Forefront Tech Holdings Acquisition Corp: questions answered

What is Forefront Tech Holdings Acquisition Corp (FTHA)?

Forefront Tech Holdings Acquisition Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002097986. It completed its initial public offering in May 2026 and listing on Nasdaq. Class A shares trade under the ticker FTHA, units under FTHAU, warrants under FTHAW on Nasdaq. The vehicle is sponsored by Next Lion through Next Lion Sponsor Holdings LLC. The mandate targets generalist. IPO closed, trust funded, no definitive agreement announced.

How much does Forefront Tech Holdings Acquisition Corp hold in trust?

Approximately $100,860,408, or about $10.09 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.

When must Forefront Tech Holdings Acquisition Corp complete a merger?

By Nov 1, 2027. If no combination closes by then the sponsor must seek a further extension or wind the vehicle up and return the trust.

What happens if Forefront Tech Holdings Acquisition Corp does not find a target in time?

The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.

Can I redeem shares in Forefront Tech Holdings Acquisition Corp, and at what price?

Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $10.09 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.

What tickers does Forefront Tech Holdings Acquisition Corp trade under?

Class A shares trade as FTHA on Nasdaq, the units as FTHAU, and the warrants as FTHAW. Units trade first and separate into their component securities roughly 52 days after the IPO; only the Class A shares carry the redemption right against the trust.

Is the trust value the same as the share price for Forefront Tech Holdings Acquisition Corp?

No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $10.09, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $9.97, a discount of 1.19% to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.

Who sponsors Forefront Tech Holdings Acquisition Corp, and what is their track record?

Next Lion Sponsor Holdings LLC is the sponsor entity, part of the Next Lion franchise. That franchise has launched 2 vehicles in total, none of which has resolved yet. Named principals: Peter Bilitsch.

Which banks underwrote the Forefront Tech Holdings Acquisition Corp IPO?

BTIG. BTIG was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is Forefront Tech Holdings Acquisition Corp tradeable, and where?

Yes. FTHA returned a live quote of $9.97 on Nasdaq. Quotes here are delayed and refreshed on a schedule rather than streamed, so treat the figure as indicative and confirm on your own venue. Units and warrants trade under their own symbols and are quoted separately.

Is Forefront Tech Holdings Acquisition Corp a good investment?

That is not a question this site answers. Forefront Tech Holdings Acquisition Corp is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.

Where does this Forefront Tech Holdings Acquisition Corp data come from?

Filings Forefront Tech Holdings Acquisition Corp submitted to the SEC under CIK 0002097986: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.

Compiled by the SPACListing research desk

Last reconciled Sep 4, 2026

Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.

Read the full methodology · What is in the dataset · Report a correction

SPACListing is a reference-data service, not an investment adviser. Nothing here is a recommendation to buy or sell any security.

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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.