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.