Westin Acquisition Corp

WSTN

Overview

• Type: Cayman Islands-domiciled special purpose acquisition company (SPAC) formed to effect a merger, share exchange, asset acquisition, or similar business combination.
• Business purpose: Identify and complete an initial business combination, after which the combined company will pursue the target’s business. The company plans to create shareholder value through its public listing and sponsor/management network.
• Current focus: Entered into a Business Combination Agreement (as of July 22, 2026) with First Choice Healthcare Solutions, Inc. (Delaware) and its subsidiary Merger Sub; actively focused on completing that proposed business combination.
• Target: First Choice Healthcare Solutions, Inc.
• Geographic/industry scope: No restriction to a single geography or industry. Executives have Asia Pacific experience. The company will not pursue an initial business combination with a target based in or primarily operating in Greater China.

Capital structure and public status

• Listing and ticker: Nasdaq-listed SPAC. Public units trade under WSTNU; separated components trade as WSTN (Class A ordinary shares) and WSTNR (rights). The sponsor and affiliates hold a substantial voting stake.
• IPO:
  • Units issued: 5,750,000 Units (including 750,000 from full over-allotment).
  • Price: $10.00 per Unit.
  • Gross proceeds from IPO: $57,500,000.
  • Unit composition: Each Unit includes one Class A ordinary share and one right to receive one-sixth of a Class A ordinary share upon completion of a business combination.
• Private placement:
  • Units: 235,000 Units at $10.00 per Unit.
  • Gross proceeds: $2,350,000.
  • Each Private Placement Unit includes one Class A ordinary share and one right to receive one-sixth of a Class A ordinary share upon completion of the initial business combination.
• Trust account: Net proceeds placed in a U.S.-based trust account: $57,500,000.
• Founder / sponsor ownership: Sponsor and affiliates expected to hold about 22.72% of the voting ordinary shares entitled to vote on the business combination at closing of the proposed transaction.
• Class B / Class A conversion: Class B ordinary shares convert to Class A on a one-for-one basis concurrent with or after completion of the initial business combination (subject to customary adjustments). Initial 2,012,500 Class B shares were issued to the sponsor; 262,500 were initially subject to forfeiture but were retained after the over-allotment exercise.
• Officers: The company currently has two officers.
• Corporate status: The company is an “emerging growth company” under the JOBS Act and a “smaller reporting company” under Regulation S-K.

Financial position and operations

• Revenue and income: The company has not generated operating revenues to date and has incurred formation and operating costs since inception.
• Use of proceeds: Substantially all net proceeds outside the trust account are intended for identifying, evaluating, and consummating a business combination and for working capital.
• Financing flexibility: The company may fund the initial business combination with cash from the trust, debt, equity, or a combination thereof, and may pursue additional private financing if needed. No third-party financing has been secured as of the filing.
• Current activity: Principal activity since the IPO has been identifying and evaluating acquisition targets; after signing the Business Combination Agreement with First Choice, the focus is on completing that transaction.

Operational footprint and positions

• Principal executive office: Suite 1165-L, 3 Coleman Street #03-24, Singapore 179804.
• Real estate and assets: The company does not own real estate or other material properties.

Business combination status and mechanics

• Target/partner: First Choice Healthcare Solutions, Inc. (and its subsidiary Merger Sub).
• Status: Focused on completing the proposed business combination; the transaction is not guaranteed to close.
• Valuation/test: Nasdaq rules require the initial business combination to have an aggregate fair market value of at least 80% of the trust account balance at signing; fair market value will be determined by the board using accepted standards or by an independent opinion if required.
• Redemptions and approval: The company intends to offer redemptions for public shareholders at the per-share trust value. Shareholder approval may be sought depending on legal or listing requirements; if approval is sought, the sponsor and certain affiliates have committed to vote in favor. If no approval is required, redemptions may be conducted under tender offer rules.
• Timeframe: 18 months from the closing of the IPO, subject to possible shareholder-approved extensions.

Governance and risk structure

• Conflicts of interest: Officers and directors may have fiduciary or contractual obligations to other entities; the company has provisions to manage conflicts and has renounced certain opportunities to reduce conflicts.
• Indemnity and liabilities: The sponsor has indemnity obligations for certain claims against the trust account, subject to limitations; the sponsor may be liable to the extent of reductions in the trust account due to claims.
• Redemption protections: The company has mechanics to manage redemptions, including tender offers and proxy-based redemptions, and includes protections to avoid reducing net tangible assets below $5,000,001.

Bottom line

• The SPAC raised approximately $59.85 million in gross proceeds (IPO and private placement) and placed about $57.5 million in a trust for a future business combination.
• It has not generated revenue to date.
• It has entered into a Business Combination Agreement with First Choice Healthcare Solutions, Inc. and is actively seeking to close that transaction.
• As of the filing, the company has two officers, does not own material real estate, lists on Nasdaq, and is incorporated in the Cayman Islands.