FTAC Olympus Acquisition Corp. announced the pricing of its $750 million IPO this evening and units are expected to begin trading on the Nasdaq under the symbol “FTOCU” tomorrow, Wednesday, August 26th.
The new SPAC aims to find a combination target in the fintech sector and will be led by Ryan M. Gilbert as President, Chief Executive Officer and Director. Betsy Z. Cohen will be Chairman of the Board.
Total SPAC deal count for 2020 year-to-date is now 79 with $32.04 billion in gross proceeds raised. The offering is anticipated to close on Friday, August 28, 2020.
Citigroup Global Markets Inc. and Cantor Fitzgerald & Co. are serving as the joint book-running managers for the offering. Ledgewood and Ellenoff Grossman & Schole LLP, are Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC are acting as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
At the SPAC of Dawn Tuesday brings another packed day in a packed week of potentially market-moving events and individual SPAC actions. The market today will take in the update on US consumer confidence readings as well as the employment cost index and Treasury’s decision on its quarterly refunding plans. An unusually large portion of...
Few target companies have gone through a greater amount of change through the course of their de-SPACing process than digital transformation firm Noventiq, which makes its latest update via a new investor presentation a particularly interesting read. When it initially announced its combination with Corner Growth (NASDAQ:COOL) in May 2023, Noventiq was still listed in...
At the SPAC of Dawn Several sleepy weeks in SPACland come to an end today with five votes, including BITE‘s (NYSE:BITE) completion vote for its combination with plant-based food producer Above Food. Similarly, CONX (NASDAQ:CONX) is to hold its tender offer to complete its acquisition of the DISH Wireless HQ. Two more SPACs are holding...
Terms Tracker for the Week Ending April 26, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As expected, it was a quiet week on the new issuance front thanks to Passover and school spring break. Other than 8-ks and some amendments...
AI has quietly been creeping to the top of the buzziest sectors for SPAC deals, but it’s become host to an even larger arms race in the private funding market. Elon Musk is currently pushing a $6 billion capital raise for his OpenAI competitor xAI at a valuation of $18 billion, according to TechCrunch, while...