Futurewave Acquisition Corporation (FWACW) Warrant
Each FWACW warrant gives the holder the right to buy 1 share of Futurewave Acquisition Corporation at $11.50 per share, for five years after the company completes its merger. The stock last closed at $9.95, below the strike, so the warrant is out of the money. Futurewave Acquisition Corporation has a market value of about $127.75M. Futurewave Acquisition Corporation is a SPAC (deal signed with Olympian Group Inc.). It must complete a deal by June 26, 2027 or the warrants expire worthless. There are 8.62M listed warrants; exercising all of them would add 67.2% to the 12.84M shares outstanding.
FWAC vs strike, last 12 months
No share-price history for FWAC 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
- none stated
- Cashless exercise
- no
- Break-even stock price
- $11.54
From the issuer's S-1/A (2026-06-04).
Company and stock
- Company
- Futurewave Acquisition Corporation
- Underlying stock
- FWAC
- Share price
- $9.95
- Market cap
- $127.75M
- Shares outstanding
- 12.84M
- Value of all listed warrants
- $343.27K (0.3% of market cap)
Market cap is the last share price times shares outstanding (as of 2026-08-13). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.0398
- Price / model
Get Pro to see whether FWACW is cheap or rich against our model.
Dilution
- Shares outstanding
- 12.84M
- Listed warrants
- 8.62M
- Dilution if all exercised
- 67.2%
Warrant count from filing text: public warrants.
SPAC deal
- Status
- deal signed
- Target
- Olympian Group Inc.
- Deal announced
- 2026-09-28
- Deadline
- 2027-06-26
- Latest possible deadline
- 2027-06-26
- Trust per share
- $10.00
- Sponsor
- Futurewave Capital Solutions Limited
- Sponsor's earlier SPACs
- 1 (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 FWACW
When does the FWACW 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 FWACW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many FWACW warrants are outstanding?
8.62M listed warrants, equal to 67.2% dilution if all are exercised.