Fortune Favor Technology Inc. Announces Entering into an Agreement and Plan of Merger with Quantumsphere Acquisition Corporation
Key Highlights
- ➤Merger implies approximately $600 million pre-money equity value for Fortune Favor
- ➤Quantumsphere (QUMS) and Fortune Favor boards approved the proposed business combination
- ➤Purchaser will become the publicly listed company after Quantumsphere merger
- ➤Fortune Favor provides medical cold-chain transportation technology consulting and solutions
- ➤Closing requires regulatory, shareholder, SEC registration, and Nasdaq approvals
Expert Statements
Ping Zhang, Chairman and CEO of Quantumsphere Acquisition Corporation
“The merger reflects our commitment to partnering with a company that combines operational execution, scalable sourcing capabilities, and strong customer relationships. We believe Fortune Favor is well positioned to capitalize on attractive market opportunities, and that this proposed transaction will provide the resources, public market access, and strategic flexibility needed to support its next phase of growth.”
VANCOUVER, British Columbia and NEW YORK, Oct. 09, 2026 (GLOBE NEWSWIRE) -- Fortune Favor Technology Inc., a Cayman Islands exempted company (“Fortune Favor” or the “Company”), announced today that it has entered into an Agreement and Plan of Merger (the “Agreement”) with Quantumsphere Acquisition Corporation (Nasdaq: QUMS, QUMSR, QUMSU) (“Quantumsphere”), a Cayman Islands exempted company and special purpose acquisition company, Fortune Favor Global Group Inc., a Cayman Islands exempted company and wholly owned subsidiary of Quantumsphere (the “Purchaser”), and QUMS Merger Sub Ltd, a Cayman Islands exempted company and wholly owned subsidiary of the Purchaser (the “Merger Sub”), pursuant to which Merger Sub will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of the Purchaser, and Quantumsphere will merge with and into the Purchaser, with the Purchaser surviving as the publicly traded company (the “Proposed Transaction”).
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