Fortress Capital Acquisition Corp. announced the pricing of its upsized $350 million IPO this morning and its units are expected to begin trading on the NYSE under the symbol “FCAX.U” Wednesday, January 13.
The new company aims to combine with a financial services business that exhibits unrecognized value and is at an inflection point. Fortress Capital is led by CEO and Chairman Michael Nierenberg, CFO Daniel N. Bass and COO Varun Wadhawan.
Total SPAC deal count for 2021 year-to-date is now 40 with $10.9 billion in gross proceeds raised. This offering is expected to close on Friday, January 15.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC. are serving as the underwriters for the offering. Weil, Gotshal & Manges LLP is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.