Mergers & Acquisitions ·
Amends merger agreement to reduce WT Realty Group acquisition value from $600M to $525M
FXACFortuneX Acquisition Corp
FortuneX Acquisition Corporation entered into a First Amendment to its Business Combination Agreement with WT Realty Group Inc. The amendment reduces the aggregate merger consideration payable to WT Realty's stockholders from 60,000,000 shares (valued at $600 million) to 52,500,000 shares of PubCo Common Stock, reflecting an agreed equity value of $525 million based on a reference price of $10.00 per share. The consideration remains a fixed number of shares with no adjustments for cash, indebtedness, or working capital. FortuneX Acquisition Corporation operates as a blank check company focused on effecting a merger, capital stock exchange, asset acquisition, or similar business combination.