Fortress Value Acquisition Corp. (FVAC.U), announced the pricing of their $300 million SPAC IPO this afternoon and the units are expected to begin trading tomorrow, Thursday, April 30th, under the symbol NYSE: FVAC.U.
Fortress Value Acquisition Corp. is being sponsored by Fortress Investment Group, the global investment management firm, and will be led by Joshua Pack, as Chairman, and Andrew McKnight, as CEO. Both Mr. Pack and Mr. Knight, are managing partners at Fortress Investment Group, where they each head the illiquid and liquid credit investment strategies, respectively.
Total SPAC deal count for 2020 year-to-date is now 18 with $5.912 billion in gross proceeds raised. The offering is anticipated to close on Monday, May 4, 2020.
Deutsche Bank Securities, Morgan Stanley and RBC Capital Markets acted as joint book-running managers for the offering. Weil, Gotshal & Manges LLP, and Skadden, Arps, Slate, Meagher & Flom LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. WithumSmith+Brown, PC acted as auditor.
Despite a week of general pull-backs in the market, fintech firm Ibotta (NYSE:IBTA) nonetheless took the dive and had a good week debuting via a traditional IPO in the choppy waters. The company, which provides app-based consumer cashback discounts on purchases, priced its IPO at $88, above its proposed range of $76 to $84, and...
At the SPAC of Dawn Happy Friday! SPACInsider has unveiled new presets on SPAC Performance accessible via the Data drop-down to easily sort for the highest and lowest performing active SPACs and de-SPACs. On the de-SPAC side, Vertiv (NYSE:VRT) continues to be well ahead of the pack, logging a 710% return by share price adjusted...
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...