Monteverde & Associates PC, a New York-based class action securities firm, has announced an investigation into Futurewave Acquisition Corporation's proposed $400 million merger with Olympian Group Inc., raising questions about whether the deal is fair to shareholders.

The investigation was announced on September 29, 2026, one day after Futurewave and Olympian entered into their definitive merger agreement. The firm, recognised as a Top 50 firm in the 2025 ISS Securities Class Action Services Report, stated it has recovered millions of dollars for shareholders in prior matters.

Transaction under scrutiny

The merger agreement, dated September 28, 2026, values Olympian at $400 million. Under the deal, Olympian shareholders will receive an aggregate of 40,000,000 PubCo ordinary shares at $10.00 per share. The combined entity is intended to list on the Nasdaq, providing Olympian with a public platform to expand its integrated chip and electronic component solutions business.

The following table summarises the key terms of the merger agreement now under investigation:

Deal structure and governance

Under the agreement, Futurewave will merge with Olympian Global Inc., a wholly owned subsidiary of Futurewave, which will survive as the parent company (PubCo). A merger sub will simultaneously combine with Olympian, making it a wholly owned subsidiary of PubCo. The share structure includes Class A shares carrying one vote each and Class B shares carrying ten votes each, issued to key founders identified in the merger agreement. Class B shares are convertible into Class A shares at the holder's option.

The PubCo board will consist of five members: one independent director appointed by Futurewave and four directors appointed by Olympian. At least a majority of the board must qualify as independent directors under applicable securities laws and Nasdaq rules. Key founder shareholders will be subject to lock-up restrictions until the earlier of six months after closing or the date on which the closing price of PubCo Class A ordinary shares equals or exceeds $12.50 per share for 20 trading days within any 30-trading-day period.

Business background

Olympian Group Inc. operates through its wholly owned Hong Kong subsidiary, HK Shang Ge Industrial Limited, specialising in integrated chip and electronic component solutions within the Automotive Electronics and Industrial Connectivity sectors. Its business model integrates upstream semiconductor resources with downstream application requirements, focusing on component selection, specification alignment, and supply-chain integration.

Hantao Cui, Chief Executive Officer of Olympian Group Inc., stated that the combination is intended to provide Olympian with a listed platform and additional resources to deepen fulfillment capabilities. Daniel M. McCabe, Chief Executive Officer of Futurewave, noted that Olympian's defensible market position and management team align with Futurewave's investment criteria.

Legal advisors and regulatory process

Celine and Partners, P.L.L.C. is acting as legal advisor to Futurewave. Loeb & Loeb LLP is acting as legal advisor to Olympian. Chain Stone Capital Limited is acting as financial advisor to Olympian. The proposed transactions remain subject to customary closing conditions, including regulatory and shareholder approvals. Futurewave will file a Current Report on Form 8-K with the SEC, and a registration statement on Form F-4, including a proxy statement and prospectus, will be jointly filed by both parties. Shareholders of Futurewave will receive a definitive proxy statement and proxy card after the registration statement is declared effective.

Monteverde & Associates PC is headquartered at the Empire State Building in New York City and has a track record in trial and appellate courts, including the U.S. Supreme Court. Shareholders with concerns may contact the firm directly.

Futurewave Acquisition Corporation has closed its initial public offering of 8,625,000 units at a price of $10.00 per unit, resulting in aggregate gross proceeds of $86,250,000. The offering included the full exercise of the underwriters' over-allotment option to purchase an additional 1,125,000 units. The units began trading on The Nasdaq Capital Market under the ticker symbol "FWACU" on June 25, 2026.

Each unit issued consists of one ordinary share, one redeemable warrant, and one right. The warrants entitle the holder to purchase one ordinary share at $11.50 per share, subject to adjustments. The rights allow the holder to receive one-fourth of one ordinary share upon the consummation of the company’s initial business combination. Once the components of the units begin separate trading, the ordinary shares, rights, and warrants are expected to trade on Nasdaq under the symbols "FWAC," "FWACR," and "FWACW," respectively.

Polaris Advisory Partners, a division of Kingswood Capital Partners LLC, acted as the sole book-running manager for the offering. Futurewave Capital Solutions Limited is the sponsor of the company. Celine and Partners, P.L.L.C. served as legal counsel to Futurewave Acquisition Corporation, while O’Melveny & Myers LLP acted as legal counsel to Polaris Advisory Partners.

A registration statement on Form S-1 relating to the securities was declared effective by the Securities and Exchange Commission on June 24, 2026. Futurewave Acquisition Corporation is a blank check company incorporated in the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses.

Key Offering Details