FIGX Capital Acquisition Corp.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
FIGX$10.38+0.1%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-05.
0001213900-26-085664
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-05.
0001213900-26-116367
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 53 previous paragraphs and 52 current paragraphs.
40 unchanged; 8 reworded; 4 added; 5 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
For the three months ended September 30, 2026, we had a net income of $1,317,457, which consisted of interest earned on investments held in the Trust Account of $1,429,636, which was partially offset by formation and general and administrative costs of $112,179.
Current report
For the three months ended September 30, 2025, we had a net income of $1,436,792, which consisted of interest earned on investments held in the Trust Account of $1,596,061, which was partially offset by formation and general and administrative costs of $159,269.
Current report
For the nine months ended September 30, 2026, we had a net income of $3,793,048, which consisted of interest earned on investments held in the Trust Account of $4,181,566, which was partially offset by formation and general and administrative costs of $388,518.
Current report
For the period from February 20, 2025 (inception) through September 30, 2025, we had a net income of $1,157,636, which consisted of interest earned on investments held in the Trust Account of $1,596,061, offset by formation and general and administrative costs of $273,926 and share-based compensation of $164,499.
Removed paragraphs (5)
Previous report
For the three months ended June 30, 2026, we had a net income of $1,252,718, which consisted of interest earned on investments held in the Trust Account of $1,372,743, which was partially offset by formation and general and administrative costs of $120,025.
Previous report
For the three months ended June 30, 2025, we had a net loss of $248,858, which consisted of share-based compensation expense of $164,499 and formation and general and administrative costs of $84,359.
Previous report
For the six months ended June 30, 2026, we had a net income of $2,475,591, which consisted of interest earned on investments held in the Trust Account of $2,751,930, which was partially offset by formation and general and administrative costs of $276,339.
Previous report
For the period from February 20, 2025 (inception) through June 30, 2025, we had a net loss of $279,156, which consisted of share-based compensation expense of $164,499 and formation and general and administrative costs of $114,657.
Previous report
In connection with our assessment of going concern considerations in accordance with FASB ASC Topic 205-40, “Presentation of Financial Statements — Going Concern,” we do not currently believe we will need to raise additional funds to meet the expenditures required for operating our business. However, if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our Business Combination. Moreover, we may need to obtain additional financing either to complete our Business Combination or because we become obligated to redeem a significant number of our Public Shares upon consummation of our Business Combination, in which case we may issue additional securities or incur debt in connection with such Business Combination.
Reworded paragraphs (8)
Previous wording
All statements other than statements of historical fact included in this Report including, without limitation, statements under this Item regarding our financial position, possible Business Combinations and the financing thereof, and related matters, and the plans and objectives of Management for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this Report, words such as “may,” “should,” “could,” “would,” “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our Management, identify forward-looking statements. We have based these forward-looking statements on our Management’s current expectations and projections about future events, as well as assumptions made by, and information currently available to our Management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in our filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph.
Current wording
All statements other than statements of historical fact included in this Report including, without limitation, statements under this Item regarding our financial position, possible Business Combinations and the financing thereof, and related matters, and the plans and objectives of Management for future operations, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this Report, words such as “may,” “should,” “could,” “would,” “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to us or our Management, identify forward-looking statements. We have based these forward-looking statements on our Management’s current expectations and projections about future events, as well as assumptions made by, and information currently available to our Management. Actual results could differ materially from those contemplated by such forward-looking statements as a result of certain factors detailed in our filings with the SEC, included herein. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph.
Previous wording
Following the closing of the Initial Public Offering and Private Placement, the amount of $150,650,000 from the net proceeds of the Initial Public Offering and the Private Placement was initially placed in the Trust Account located in the United States with Continental acting as trustee. Pursuant to the Trust Agreement, the Trust Account may be invested only (i) in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act with a maturity of 185 days or less, (ii) in any open-ended investment company that holds itself out as a money market fund selected by us meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, (iii) as uninvested cash or (iv) in interest or non-interest bearing demand deposit account at a U.S. chartered commercial bank with consolidated assets of $100 billion or more selected by Continental that is reasonably satisfactory to us, until the earlier of: (x) the completion of the Business Combination and (y) the distribution of the Trust Account, as described below.
Current wording
Following the closing of the Initial Public Offering and Private Placement, an amount of $150,650,000 from the net proceeds of the Initial Public Offering and the Private Placement was initially placed in the Trust Account located in the United States with Continental acting as trustee. Pursuant to the Trust Agreement, the Trust Account may be invested only (i) in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act with a maturity of 185 days or less, (ii) in any open-ended investment company that holds itself out as a money market fund selected by us meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, (iii) as uninvested cash or (iv) in interest or non-interest bearing demand deposit accounts at a U.S. chartered commercial bank with consolidated assets of $100 billion or more selected by Continental that is reasonably satisfactory to us, until the earlier of: (x) the completion of the Business Combination and (y) the distribution of the Trust Account, as described below.
Previous wording
For the six months ended June 30, 2026, cash used in operating activities was $240,955 with a net income of $2,475,591, interest earned on investments held in the Trust Account of $2,751,930. Changes in operating assets and liabilities provided $35,384 of cash for operating activities.
Current wording
For the nine months ended September 30, 2026, cash used in operating activities was $309,462 with a net income of $3,793,048, interest earned on investments held in the Trust Account of $4,181,566. Changes in operating assets and liabilities provided $79,056 of cash for operating activities.
Previous wording
For the period from February 20, 2025 (inception) through June 30, 2025, cash used in operating activities was $0. Net loss of $279,156, payment of general and administrative costs through IPO Promissory Note – related party of $54,292 and share-based compensation expense of $164,499. Changes in operating assets and liabilities provided $60,365 of cash for operating activities.
Current wording
For the period from February 20, 2025 (inception) through September 30, 2025, cash used in operating activities was $566,688, with a net income of $1,157,636, interest earned on investments held in the Trust Account of $1,596,061, payment of general and administrative costs through the IPO Promissory Note of $54,292 and share-based compensation expense of $164,499. Changes in operating assets and liabilities used $347,054 of cash for operating activities.
Previous wording
As of June 30, 2026, we had marketable securities held in the Trust Account of $156,460,058 (including approximately $5,810,058 of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which interest shall be net of any taxes payable, and exclude the Deferred Underwriting Fee), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.
Current wording
As of September 30, 2026, we had investments held in the Trust Account of $157,889,693 (including approximately $7,239,693 of interest income). We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which interest shall be net of any taxes payable, and exclude the Deferred Underwriting Fee), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.
Previous wording
As of June 30, 2026, we had cash held outside of the Trust Account of $664,186. We use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants, or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.
Current wording
As of September 30, 2026, we had cash held outside of the Trust Account of $510,679 . We use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants, or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.
Previous wording
Commencing on June 27, 2025, and until the completion of our Business Combination or liquidation, we reimburse the Sponsor $10,000 per month for office space, utilities, and secretarial and administrative support pursuant to the Administrative Services Agreement. For the three and six months ended June 30, 2026, we incurred $30,000 and $60,000 in fees for these services, respectively. For the three months ended June 30, 2025 and for the period from February 20, 2025 (inception) through June 30, 2025, we did not incur any fees for these services. As of June 30, 2026 and December 31, 2025, we owed the Sponsor $8,548 and $1,943, respectively, related to these services, which amount is included in the “Due to related party” line item of the condensed balance sheets of the financial statements included in this Report under Item 1. “Financial Statements”.
Current wording
Commencing on June 27, 2025, and until the completion of our Business Combination or liquidation, we reimburse the Sponsor $10,000 per month for office space, utilities, and secretarial and administrative support pursuant to the Administrative Services Agreement. For the three and nine months ended September 30, 2026, we incurred $30,000 and $90,000 in fees for these services, respectively. For the three months ended September 30, 2025 and for the period from February 20, 2025 (inception) through September 30, 2025, the Company incurred $30,000 in fees for these services. As of September 30, 2026 and December 31, 2025, we owed the Sponsor $2,855 and $1,943, respectively, related to these services, which amount is included in the “Due to related party” line item of the condensed balance sheets of the financial statements included in this Report under Item 1. “Financial Statements”.
Previous wording
Our Chief Financial Officer provides accounting services to us at a monthly rate of $3,000, which commenced on September 1, 2025, pursuant to the Consulting Agreement. For the three and six months ended June 30, 2026, we incurred $9,000 and $18,000 fees for these services, respectively. For the three months ended June 30, 2025 and for the period from February 20, 2025 (inception) through June 30, 2025, we incurred no fees for these services.
Current wording
Our Chief Financial Officer provides accounting services to us at a monthly rate of $3,000, which commenced on September 1, 2025, pursuant to the Consulting Agreement. For the three and nine months ended September 30, 2026, we incurred $9,000 and $27,000 in fees for these services, respectively. For the three months ended September 30, 2025 and for the period from February 20, 2025 (inception) through September 30, 2025, the Company incurred $9,000 in fees for these services, including $6,000 for work done before the effective date of the Consulting Agreement.