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FACT

FACT II Acquisition Corp

FACT

FACT II Acquisition Corp • NASDAQ
$10.35 ▼ -0.05% (-0.01)
Market Cap $251.73 M
52w High $10.40
52w Low $9.85
Dividend Yield 0%
P/E 1035
Volume 517
Outstanding Shares 24.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $602.25K ▲ $1.267M ▼ 0% $0.069 ▲ $796K ▲
Q2-2025 $0 ▼ $199.558K ▼ $1.632M ▲ 0% ▼ $0.067 ▲ $-199.558K ▲
Q1-2025 $82.74M ▼ $364.345K ▼ $1.448M ▲ 1.75% ▲ $0.059 ▲ $-364K ▲
Q4-2024 $94.21M ▲ $975.612K ▲ $32.396K ▲ 0.034% ▲ $0 ▲ $-975.612K ▼
Q3-2024 $5.536M $104.287K $-104.287K -1.884% $-0.004 $-104.287K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.008M ▼ $183.191M ▲ $8.601M ▲ $-7.473M ▼
Q2-2025 $1.088M ▼ $181.457M ▲ $8.134M ▲ $173.323M ▲
Q1-2025 $1.222M ▼ $179.819M ▲ $8.127M ▼ $171.692M ▲
Q4-2024 $13.378M ▼ $144.466M ▲ $242.005M ▼ $-97.539M ▲
Q3-2024 $79.502M $107.936M $250.64M $-142.704M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-148.885K ▼ $2.292M ▲ $-175.875M ▼ $177.763M ▲ $-80.839K ▲ $2.292M ▲
Q2-2025 $3.047M ▲ $-105.349K ▲ $175.875M ▲ $-177.565M ▼ $-359.456K ▲ $-105.349K ▲
Q1-2025 $1.448M ▲ $-2.627M ▼ $0 ▲ $-198K ▼ $-2.825M ▼ $-2.627M ▼
Q4-2024 $32.396K ▲ $-254.107K ▼ $-175.875M ▼ $177.565M ▲ $1.436M ▼ $-254.107K ▼
Q3-2024 $-104.287K $175.657M $0 $62.589K $247.401M $175.657M

Five-Year Company Overview

Income Statement

Income Statement FACT is effectively a shell company, so its income statement is very simple and not yet driven by a real operating business. Revenue so far is minimal and looks more like interest or investment income than true sales. Operating expenses are higher than this income, so the company is running at a loss, which is normal for a SPAC while it searches for a target. Losses have narrowed recently compared with the prior year, but results are still negative and volatile because even small cost changes have a large impact at this tiny scale.

Balance Sheet

Balance Sheet The balance sheet is small and reflects the early-stage, shell nature of the company. Total assets are limited and appear to be mostly financial in nature, with no meaningful operating assets. Debt has appeared more recently, adding some leverage to an otherwise lean structure. Equity swung from positive to negative and then back to positive, showing that the capital base has been moving around as the SPAC structure evolved and costs were absorbed. Overall, it is a thin capital cushion that depends heavily on the SPAC’s fundraising and deal execution rather than on ongoing business strength.

Cash Flow

Cash Flow Cash flows are negative from operations, reflecting that the company is spending on search, administrative, and deal-related activities without an offsetting operating business. There is essentially no investment in physical assets, and free cash flow is negative because every dollar out the door is effectively a cost of being public and hunting for a merger. For now, the cash story is about managing burn and time: how long current resources and future capital can support the search for an attractive target.

Competitive Edge

Competitive Edge As a SPAC, FACT does not compete in a traditional product or service market. Its “competition” is other SPACs and private equity style vehicles also looking for attractive companies to merge with. Its edge, if any, comes from the experience and networks of its management team, which has a background in investment banking. Still, until a specific target is identified and a deal is completed, FACT’s competitive position cannot be assessed in the usual business sense—it is essentially a pool of capital with a mandate and a deadline.

Innovation and R&D

Innovation and R&D FACT has no products, technology, or research activity of its own. All innovation and R&D will come from whichever company it eventually merges with. That means there is no inherent technological edge or moat at this stage. The real innovation profile of FACT will only become clear after a deal is announced, when the target’s patents, product pipeline, and competitive strengths can be evaluated. Until then, the “innovation story” is purely about the management team’s ability to identify and negotiate with a strong, innovative target.

Summary

FACT II Acquisition Corp is a typical SPAC: a financial vehicle with minimal operations, small and shifting financial statements, and negative earnings and cash flow while it searches for a company to acquire. Its future will depend almost entirely on the quality of the merger target it finds and the terms of that transaction, not on its current financial performance. Key things to watch going forward are: whether the team sources a credible target within its time window, the strength and defensibility of that target’s business, and how the combined entity’s balance sheet and cash flows look after the deal. Until then, FACT remains a blank check company whose risk and opportunity are both tied to an unknown future transaction.