FTAC Athena Acquisition Corp. (FTAA) Terminates Pico Deal
by Marlena Haddad on 2022-02-25 at 6:30pm

FTAC Athena (NASDAQ:FTAA) announced this afternoon that it has agreed to mutually terminate its combination with fintech firm Pico.

While most SPAC terminations have been citing unfavorable market conditions, FTAC Athena disclosed that it was forced to terminate due to Pico’s failure to deliver financial information as required by the business combination agreement. But, it did not provide much detail on the termination beyond that. Nonetheless, neither party will be required to pay the other a termination fee, and FTAC Athena has exactly a year from today to complete a transaction, which provides the SPAC plenty of time.

FTAC Athena originally priced a $220 million IPO and intends to focus on technology and financial services technology, or fintech, companies that power transformation and innovation. The company is led by Chairman of the Board Betsy Z. Cohen and President and Chief Executive Officer Amanda J. Abrams.

The parties originally announced their $1.4 billion combination in August. New York City-based Pico provides high-speed financial markets data and analysis to institutions across the globe from exchanges in 20 cities.

 

Recent Posts
by Nicholas Alan Clayton on 2025-04-02 at 2:59pm

As the 2025 market environment settles in, SPACs have an increasingly defined role within the capital markets ecosystem, more often bringing midcap companies public, while traditional IPO deal flow has skewed smaller over time. And, as this new analysis shows, SPACs have been frequently offering investors higher upside when these companies excel. Of course, as...

by Nicholas Alan Clayton on 2025-04-02 at 8:18am

At the SPAC of Dawn Despite the jitters sent through the market ahead of today’s festival of tariff implementations, SPACs have shown themselves to be unconcerned with “Liberation Day” as two teams priced their IPOs and will debut in the eye of the storm later today. That makes for four new SPAC listings on the...

by Nicholas Alan Clayton on 2025-04-02 at 7:57am

Soulpower Acquisition Corporation  (NYSE:SOUL.U) announced the pricing of its upsized $220 million IPO and its units are expected to begin trading on the NYSE under the symbol “SOUL.U”, Wednesday, April 2, 2025. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but will focus...

by Nicholas Alan Clayton on 2025-04-01 at 8:05pm

Sizzle Acquisition Corp. II (NASDAQ: SZZLU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SZZLU”, Wednesday, April 2, 2025. Sizzle II plans to search for a target in a range of industries and combine with an established business of scale poised...

by Jonathan Perez on 2025-04-01 at 4:50pm

In March 2025, SPAC activity remained largely in line with February, though notable shifts emerged across extensions, announced transactions, and completions. Extension activity remained steady, with a slight increase in the number of SPACs seeking additional time. However, later-stage extensions became more common, reflecting a maturing SPAC landscape. Announced transaction volume continued to be weak,...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved