FutureCorp Space Acquisition 1 (FTRA.W) Warrant
Each FTRA.W warrant gives the holder the right to buy 1 share of FutureCorp Space Acquisition 1 at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.87, below the strike, so the warrant is out of the money. FutureCorp Space Acquisition 1 has a market value of about $283.76M. FutureCorp Space Acquisition 1 is a SPAC (no deal announced yet). It must complete a deal by June 8, 2028 or the warrants expire worthless. There are 11.50M listed warrants; exercising all of them would add 40.0% to the 28.75M shares outstanding.
FTRA vs strike, last 12 months
No share-price history for FTRA yet.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $12.00
From the issuer's S-1/A (2026-06-02).
Company and stock
- Company
- FutureCorp Space Acquisition 1
- Underlying stock
- FTRA
- Share price
- $9.87
- Market cap
- $283.76M
- Shares outstanding
- 28.75M
- Value of all listed warrants
- $5.75M (2.0% of market cap)
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.5001
- Price / model
Get Pro to see whether FTRA.W is cheap or rich against our model.
Dilution
- Shares outstanding
- 28.75M
- Listed warrants
- 11.50M
- Dilution if all exercised
- 40.0%
Warrant count from filing iXBRL: PublicWarrantMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-06-08
- Latest possible deadline
- 2028-06-08
- Trust per share
- $10.02
- Sponsor
- FutureCorp Space Acquisition 1 LLC
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about FTRA.W
When does the FTRA.W warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of FTRA.W?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many FTRA.W warrants are outstanding?
11.50M listed warrants, equal to 40.0% dilution if all are exercised.