WT Realty Strikes $600M SPAC Deal With FortuneX

WT Realty Group has agreed to go public through a merger with FortuneX Acquisition Corp., giving the integrated real estate services platform an implied equity value of approximately $600 million.

Under the agreement, FortuneX will move its corporate domicile from the Cayman Islands to Delaware and become the public holding company, expected to be renamed FortuneX Realty Group Holdings Inc. A FortuneX subsidiary will merge into WT Realty, which will survive as a wholly owned subsidiary of the combined company.

The agreement calls for WT Realty stakeholders to receive an aggregate 60 million shares of the holding company’s common stock at a reference price of $10 per share. The combined company’s Class A shares are expected to trade on Nasdaq. FortuneX’s existing securities trade under the ticker FXAC.

WT Realty operates through Wetrust Realty and related entities, providing residential and commercial brokerage, escrow, mortgage and lending, title and technology-enabled services for real estate professionals and consumers.

“After an extensive search for a high-impact partner, we believe that WT Realty’s growing platform and experienced management team position the combined company well for long-term value creation,” said Daniel McCabe, FortuneX’s CEO and chief financial officer.

WT Realty CEO and Chairwoman Tiffany Xu called the transaction “a major milestone.”

The companies expect to close the deal during the first quarter of 2027.

Winston Taylor LLP is acting as legal counsel to WT Realty. Celine & Partners PLLC is acting as legal counsel to FortuneX.