Fortress Value Acquisition Corp. V Reports Audited Balance Sheet and Key SPAC Updates

Key Highlights from the Audited Financial Statement as of February 27, 2026

Fortress Value Acquisition Corp. V (“the Company”), a newly incorporated special purpose acquisition company (SPAC), has released its audited balance sheet as of February 27, 2026, alongside important disclosures for investors. The financial audit was conducted by CBIZ CPAs P.C., who confirmed the accuracy and fairness of the report in accordance with U.S. GAAP.

Summary of Financial Position

• Total Assets: \$251,568,419
• Cash Held in Trust Account: \$250,000,000 (earmarked for a future business combination)
• Current Cash (outside Trust): \$1,556,551
• Total Liabilities: \$14,766,879 (includes \$13.75 million in deferred underwriting commissions, \$580,593 accrued offering costs, \$77,036 accounts payable, \$359,250 over-allotment option liability)
• Class A Ordinary Shares Subject to Redemption: 25,000,000 shares at \$10.00 each (\$250,000,000), classified as temporary equity
• Total Shareholders’ Deficit: \$(13,198,460)

Important Information for Shareholders

• SPAC Purpose: Fortress Value Acquisition Corp. V is a blank check company formed to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses not yet identified.
• IPO Details:
  • Held February 27, 2026: 25,000,000 Class A public shares at \$10.00 per share, gross proceeds of \$250 million
  • Private Placement: 200,000 private shares at \$10.00 per share to the Sponsor, raising \$2 million
  • Over-allotment Option: The underwriter has a 45-day option to purchase up to 3,750,000 additional shares
• Trust Account Structure:
  • All IPO proceeds and private placement proceeds placed in a U.S. trust account at J.P. Morgan Chase
  • Funds invested in U.S. government securities or money market funds, to be released only upon completion of an approved business combination, or to redeem shares if no combination occurs
• Redemption Rights:
  • Shareholders may redeem shares for approximately \$10.00 per share (plus pro rata interest) in connection with a business combination or liquidation
  • Redemption process can occur via shareholder meeting or tender offer
  • Redemption rights are limited for shareholders or groups owning more than 15% of the public shares
  • If no business combination is completed within 24 months (or up to 27 months if a deal is in progress), the trust will be liquidated and public shares redeemed
• Deferred Underwriting and Sponsor Arrangements:
  • Deferred underwriting commission of \$13.8 million payable only upon successful business combination
  • Sponsor has agreed to cover any claims by third parties that reduce trust funds (with exceptions)
  • Founder Shares: 7,187,500 Class B shares held by Sponsor and insiders, convertible to Class A shares at 1:1 upon business combination
  • Founder shares subject to forfeiture if over-allotment is not exercised in full
• Working Capital and Related Party Transactions:
  • As of report date, \$1.6 million in cash and \$0.6 million in working capital available for operating needs
  • Sponsor provided a \$160,375 promissory note (now repaid), and has agreed to provide up to \$1.5 million in working capital loans if required
  • Monthly office and support services fee of \$20,000 to an affiliate of the sponsor
• Share Structure and Lock-Ups:
  • Class A: 200,000,000 authorized, 25,200,000 issued (25,000,000 subject to redemption)
  • Class B: 20,000,000 authorized, 7,187,500 issued (up to 937,500 may be forfeited)
  • Founder and private placement shares subject to lock-up until one year after business combination or certain price/transaction conditions are met
• Key Risks Noted:
  • Ability to complete a business combination is subject to various external risks, including market volatility, regulatory changes, macroeconomic factors, and potential public health or geopolitical events

Potential Price-Sensitive Factors for Investors

• Completion of Initial Business Combination: The timing and success of a business combination is the single most material event for shareholders. If no transaction is completed within the specified period, public shareholders will only receive their redemption amount plus accrued interest, which could be less than \$10.00 per share due to permitted withdrawals or expenses.
• Deferred Underwriting Fees: These are only paid if a business combination is completed. If not, these funds remain in the trust for redemption, potentially increasing per-share redemption value.
• Redemption Rights and Shareholder Votes: How redemption rights are exercised can affect the post-combination capital structure and trading price of the shares. Large redemptions can tighten float and increase volatility.
• Over-allotment Option: If the underwriter exercises this, dilution could occur, affecting both voting power and redemption pool.
• Trust Account Security: Sponsor’s indemnity for trust depletion due to claims provides some downside protection, but is limited in scope.
• Founder and Private Placement Shares: These shares convert 1:1 to Class A upon completion of the business combination, impacting post-merger ownership and potentially leading to dilution.
• No Current Operations: The company currently generates minimal interest income and has not identified or announced any target business. Investors should be aware there are no guarantees of a deal or post-combination value creation.

Other Noteworthy Details

• No Unrecognized Tax Liabilities: The company is a Cayman Islands exempted entity with no current U.S. or Cayman tax obligations.
• Segment Reporting: The company operates as a single segment, with the only material expenses to date being \$8,529 in formation, general, and administrative costs.
• Fair Value Measurement: Over-allotment option liability valued at \$359,250 using Black-Scholes, classified as Level 3 (unobservable inputs).
• No Material Subsequent Events: As of March 5, 2026, no events have occurred post-balance sheet date requiring disclosure.

Conclusion for Investors

Fortress Value Acquisition Corp. V stands at the early stage of its SPAC lifecycle, with all IPO proceeds secured in trust and a strict shareholder-friendly redemption framework in place. The most significant price-sensitive events for investors will be any announcements related to potential business combinations, changes in the redemption structure, or regulatory developments affecting SPACs broadly. While the financial position is strong, with \$250 million in trust and minimal expenses, there is currently no announced merger target, and the company’s future depends entirely on its ability to identify and successfully consummate a suitable transaction within the designated timeline.

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