Business Context and Reporting Period
Company: Future Vision II Acquisition Corp. (FVN)
Filing Type: Form 8-K (Current Report)
Date of Report: August 13, 2026
Context: The Company, a Cayman Islands-based special purpose acquisition company (SPAC), is in the process of consummating a business combination with MicroTouch Technology Inc. pursuant to a Merger Agreement dated January 16, 2026. This filing reports the extension of the deadline to complete this transaction.
Key Financial Metrics and Obligations
Debt and Liquidity:
- New Obligation: Issued an unsecured promissory note (the "Note") in the principal amount of $191,475 to its sponsor, HWei Super Speed Co. Ltd.
- Purpose: Funds were advanced to be deposited into the Trust Account to effectuate an extension of the business combination deadline.
- Terms: The Note bears no interest and matures upon the closing of the initial business combination.
- Contingency: If no business combination is consummated, the Note will be forgiven, and the Sponsor waives all rights to distributions from the Trust Account regarding this Note.
- Conversion Option: The Sponsor may convert the unpaid principal into Units at $10.00 per unit upon the consummation of a business combination.
Revenue and Profit: The filing text does not provide specific revenue, profit, or cash flow figures for the reporting period.
Material Changes and Events
- Extension of Deadline: The Board of Directors approved an extension of the Business Combination Deadline from August 13, 2026, to September 13, 2026.
- Future Extension Proposal: The Company intends to hold an Extraordinary General Meeting (EGM) to seek shareholder approval for a further extension of the deadline. Details are referenced in a Proxy Statement filed on August 7, 2026.
- Unregistered Securities: The potential issuance of Units upon conversion of the Note is subject to transfer restrictions until the completion of the business combination.
Outlook, Risks, and Management Commentary
Outlook: The Company continues to pursue the merger with MicroTouch Technology Inc. However, there is no assurance that the business combination will be consummated by the new deadline of September 13, 2026.
Market Clarification (Short Sale Coverage): The Company issued a clarification regarding its publicly traded Rights (FVNNR) to address market confusion:
- Conversion Mechanics: Ten Rights convert into one Ordinary Share only upon the consummation of the business combination.
- No Pre-Closing Conversion: Rights cannot be converted voluntarily or automatically prior to the closing, including upon the approval of the August 21, 2026 extension.
- Short Sale Implications: Because Rights cannot be converted into deliverable Ordinary Shares prior to closing, they cannot be used to satisfy "locate" or delivery requirements for short sales under SEC Regulation SHO.
- Voting Rights: Rights do not carry voting rights at the upcoming EGM and have no redemption rights or liquidating value.
Investor Verification Checklist
- Verify the terms of the proposed further extension in the Proxy Statement filed on August 7, 2026.
- Confirm the status of the Merger Agreement with MicroTouch Technology Inc. and any potential delays.
- Review the full text of the Extension Promissory Note (Exhibit 10.1) for any additional covenants.
- Monitor the Company's ability to consummate the business combination by September 13, 2026, to determine if the $191,475 Note will be forgiven or converted.
- Ensure broker-dealer compliance regarding the use of Rights for short sale locates, as clarified in Item 8.01.