FACT II Acquisition Corp. (Nasdaq: FACT) is a blank-check company currently in the business combination phase, as indicated by a Form 425 filing submitted to the SEC on May 19, 2026. Form 425 filings are prospectus-related communications made in connection with proposed merger transactions, signaling that FACT is actively working toward completing a de-SPAC combination with a target company. The "II" designation suggests this is the sponsor's second special purpose acquisition vehicle. The SPAC operates in the broader blank-check and financial services sector, with its recent filing activity placing it at a late stage in the combination process. Sign up on SpacDesk for full filing history, target details, and real-time status tracking on FACT and hundreds of other active SPACs.