Fortress Value Acquisition Corp. V – Q1 2026 Investor Update

Key Highlights from the Quarterly Report

• Initial Public Offering (IPO) Completed: Fortress Value Acquisition Corp. V (“the Company”) successfully completed its IPO on February 27, 2026, raising gross proceeds of \$287.5 million through the issuance of 25,000,000 Class A ordinary shares.
• Trust Account Balance: As of March 31, 2026, the Company held \$288.3 million in its Trust Account, primarily invested in U.S. government securities and money market funds with a maturity of less than 185 days.
• Net Income: For the three months ended March 31, 2026, the Company reported net income of \$794,187, driven almost entirely by interest and dividend income from investments held in the Trust Account.
• Shareholders’ Deficit: The Company reported a total shareholders’ deficit of \$15.0 million as of March 31, 2026, mainly due to the classification of Class A shares subject to possible redemption.
• Working Capital and Cash Position: Fortress Value held \$1.1 million in its operating bank account and had a working capital surplus of \$0.8 million.
• Deferred Underwriting Commissions: \$15.8 million in deferred underwriting commissions will be paid only if a business combination is completed.
• Emerging Growth Company Status: The Company qualifies as an “emerging growth company” under the JOBS Act and is taking advantage of reduced reporting and disclosure requirements.
• Shell Company Status: Fortress Value is currently classified as a shell company, as it does not generate operating revenues and its activities are limited to seeking a business combination.
• No Material Legal Proceedings: The Company reported no legal proceedings or defaults upon senior securities during the quarter.

Important Details for Shareholders

• Business Combination Search: The Company is actively seeking a target business to complete its initial business combination, but as of March 31, 2026, no target has been announced. This search is the primary activity and value driver for Fortress Value. Any announcement regarding a business combination would be highly price-sensitive.
• Redemption Rights: Investors holding Class A ordinary shares may redeem their shares in connection with a business combination or a tender offer. The Company’s amended and restated memorandum and articles of association restricts any shareholder (including affiliates and groups) from redeeming more than 15% of the Class A shares.
• Risk Factors: Fortress Value faces risks common to blank check companies, including the possibility of failing to complete a business combination within the required timeframe, changes in market conditions, regulatory uncertainties, and geopolitical risks. These factors could materially affect the share value.
• Interest Income as Key Revenue: Before a business combination, the Company’s only source of income is interest and dividends from the Trust Account. Therefore, results are not necessarily indicative of future performance post-business combination.
• Off-Balance Sheet Arrangements: Fortress Value reported no off-balance sheet arrangements as of March 31, 2026.
• Unregistered Sales of Equity Securities: In December 2025, the Company issued 7,187,500 Class B ordinary shares to its Sponsor for \$25,000; in February 2026, the Sponsor sold 30,000 Founder Shares to an independent director at the same per-share price. Private Placement shares were issued to the Sponsor under a Section 4(a)(2) exemption.
• Use of Proceeds: No material changes have occurred in the planned use of proceeds from the IPO and Private Placement as described in the prospectus. The bulk of proceeds remains in the Trust Account pending a business combination.
• Controls and Procedures: Management evaluated disclosure controls and procedures, concluding they were effective as of March 31, 2026. No material changes occurred in internal control over financial reporting during the quarter.
• Emerging Growth Company Reporting: The Company is not required to provide auditor attestation on internal controls and takes advantage of other reduced disclosures under the JOBS Act.
• Market Risk Disclosure: Fortress Value is classified as a “smaller reporting company” and is not required to provide extensive market risk disclosures at this time.
• Share Structure: The Company is authorized to issue up to 200,000,000 Class A ordinary shares and 1,000,000 preference shares (none issued).
• Forward-Looking Statements: The report includes cautionary statements regarding the risks and uncertainties inherent in the Company’s operations and search for a business combination. Actual results may differ materially from those projected.

Potential Share Price Drivers

• Announcement of a Target Business: The most significant price-sensitive event for Fortress Value will be the identification and announcement of a business combination target. Investors should monitor for such announcements.
• Redemption Activity: Levels of shareholder redemption in connection with a business combination can impact the post-merger capital structure and share value.
• Interest Rate Changes: The interest income generated from the Trust Account is subject to changes in market interest rates, which could slightly affect reported income.
• Regulatory and Geopolitical Risks: Any significant changes in financial markets, regulations, or global events could impact Fortress Value’s ability to complete a business combination, affecting share value.

Conclusion

Fortress Value Acquisition Corp. V remains in the pre-combination stage, holding substantial funds in trust and actively searching for an acquisition target. The Company’s financial results are largely driven by interest income, and its share value is tied to the prospect of a successful business combination. Shareholders should remain attentive to announcements regarding potential targets, as these will be highly price-sensitive and likely to drive significant share price movement. The Company’s strong balance sheet and effective internal controls are positive, but the inherent risks of blank check companies and uncertain market conditions persist.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should review the full SEC filings and consult with their financial advisors before making investment decisions. Forward-looking statements are subject to risks and uncertainties and actual results may differ materially.

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