Fortress Value Acquisition Corp. III announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “FVT.U” Tuesday, January 5.
The new company aims to combine with a business would benefit from a hands-on owner with investment and operational expertise and that presents potential for an attractive risk-adjusted return profile. Fortress Value III is led by Chairman Joshua A. Pack, CEO Andrew A. McKnight, CFO Daniel N. Bass, and COO Micah B. Kaplan.
Total SPAC deal count for 2021 year-to-date is now 1 with $200.0 million in gross proceeds raised. This offering is expected to close on Thursday, January 7.
Deutsche Bank Securities Inc. and BofA Securities, Inc. are serving as the underwriters for the offering. Weil, Gotshal & Manges LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher and Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC 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...
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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...