X3 Acquisition Corp. Ltd. (XCBEW) Warrant
Each XCBEW warrant gives the holder the right to buy 1 share of X3 Acquisition Corp. Ltd. at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.02, below the strike, so the warrant is out of the money. X3 Acquisition Corp. Ltd. has a market value of about $281.81M. X3 Acquisition Corp. Ltd. is a SPAC (no deal announced yet). It must complete a deal by January 22, 2028 or the warrants expire worthless. There are 11.25M listed warrants; exercising all of them would add 40.0% to the 28.12M shares outstanding.
XCBE vs strike, last 12 months
No share-price history for XCBE 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
- no
- Break-even stock price
- $11.70
From the issuer's S-1/A (2025-12-19).
Company and stock
- Company
- X3 Acquisition Corp. Ltd.
- Underlying stock
- XCBE
- Share price
- $10.02
- Market cap
- $281.81M
- Shares outstanding
- 28.12M
- Value of all listed warrants
- $2.25M (0.8% 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
- $0.2001
- Price / model
Get Pro to see whether XCBEW is cheap or rich against our model.
Dilution
- Shares outstanding
- 28.12M
- Listed warrants
- 11.25M
- Dilution if all exercised
- 40.0%
Warrant count from filing iXBRL: PublicWarrantMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-01-22
- Latest possible deadline
- 2028-01-22
- Trust per share
- $10.16
- Sponsor
- X3 Acquisition Management 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 XCBEW
When does the XCBEW 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 XCBEW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many XCBEW warrants are outstanding?
11.25M listed warrants, equal to 40.0% dilution if all are exercised.