FAST Acquisition Corp. Announces Closing of $200 Million Initial Public Offering
26 August 2020 - 2:08AM
Business Wire
FAST Acquisition Corp. (the "Company") today announced that it
had closed its initial public offering of 20,000,000 units at a
price of $10.00 per unit. The units are listed on the New York
Stock Exchange (the "NYSE") and began trading under the ticker
symbol "FST.U" on August 21, 2020. Each unit consists of one share
of Class A common stock and one-half of one redeemable warrant,
with each whole warrant exercisable to purchase one share of Class
A common stock at a price of $11.50 per share. After the securities
comprising the units begin separate trading, the shares of Class A
common stock and warrants are expected to be listed on the NYSE
under the symbols "FST" and "FST WS," respectively.
FAST Acquisition Corp. is a blank check company whose business
purpose is to effect a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an initial business combination target in any industry or
geographic region, the Company intends to focus its search for an
initial business combination on businesses in the restaurant,
hospitality, and related sectors in North America with a $600
million or greater enterprise value.
Citigroup Global Markets Inc. and UBS Securities LLC acted as
joint bookrunning managers for the offering and Odeon Capital
Group, LLC acted as co-manager of the offering. The Company has
granted the underwriters a 45-day option to purchase up to an
additional 3,000,000 units at the initial public offering price to
cover over-allotments, if any.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on August 20, 2020. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. Copies
of the prospectus relating to the offering may be obtained from
Citigroup Global Markets Inc., LLC, Attention: Prospectus
Department, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; and
UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue
of the Americas, New York, NY 10019, by telephone at (888) 827-7275
or by email at ol-prospectusrequest@ubs.com
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and search for an initial business combination. No
assurance can be given that the proceeds of the offering will be
used as indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's registration statement for the initial public
offering filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200825005948/en/
Investor Contact: Fitzhugh Taylor ICR fast.ir@icrinc.com
Media Relations: Keil Decker ICR fast.pr@icrinc.com
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