FutureCrest Acquisition reported late Monday the closing of its $287.5 million initial public offering as it targets acquisition in artificial intelligence, digital assets, and fintech sectors.

The blank check company's units began trading on the New York Stock Exchange, or NYSE, last Friday under the ticker "FCRS.U."

Each unit comprises of one Class A ordinary share and one-quarter of one redeemable warrant. Once the components of unit start trading separately, they are expected to list on NYSE under the symbols "FCRS" and "FCRS WS," respectively.