Forefront Tech (FTHA) below trust as SPAC action picks up
Forefront Tech Holdings Acquisition Corp units slipped under their IPO price early Wednesday on Nasdaq, putting the new SPAC at a slight discount to its trust cash as it looks for a tech target. Shares last traded at $9.975 as of 10:03:57 a.m. EDT, according to MarketScreener. Why does that matter now? Forefront is in its first weeks trading as a public SPAC — a shell entity listed to raise capital before looking for a deal with a real company. The most recent audited balance sheet reported $100.3 million in its trust, which is the same as an initial redemption value of $10.03 for each public share.