Fortress Value Acquisition Corp. II (FAII.U), announced the pricing of their $300 million SPAC IPO tonight and the shares are expected to begin trading on the NYSE under the FAII.U symbol tomorrow, August 12, 2020.
Andrew McKnight will serve as FAII’s CEO, with Joshua Pack nominated as Board Chairman and Daniel Bass and Micah Kaplan stepping in as the entity’s CFO and COO, respectively.
McKnight and Pack also served in these roles for Fortress Value Acquisition Corp. I, which on July 15th announced it had agreed to combine with US-based rare earth mineral miner MP Materials.
Total SPAC deal count for 2020 year-to-date is now 65 with $25.93 billion in gross proceeds raised. The offering is anticipated to close on Friday, August 14, 2020.
Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and BofA Securities, Inc. are serving as the underwriters for the offering. Weil, Gotshal & Manges LLP, was Issuer’s Counsel while Skadden, Arps, Slate, Meagher & Flom LLP served as Underwriter’s Counsel. WithumSmith+Brown acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Byju skips payment on dollar loan and HNR affirms intent to purchase equity interests of Pogo Resources High-Flying Indian Startup Byju’s Skips Payment on Dollar Loan One of India’s best-known startups has skipped payment...
Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...
Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...