Special Opportunities Fund Provides Update On FAST Acquisition Corp. Settlement
06 Mai 2024 - 10:54PM
Business Wire
Special Opportunities Fund, Inc. (NYSE: SPE) is providing the
following update regarding the settlement of a class action lawsuit
filed in the Delaware Court of Chancery against FAST Acquisition
Corp. (“FAST”). Additional information regarding the lawsuit is
also available on the settlement website.
As previously stated, the proposed settlement, which has been
approved by the court, provides for a gross cash payment of $12.5
million to former shareholders of FAST’s class A common stock as of
August 25, 2022. As of today, SPE continues to expect, based on
conversations with the settlement administrator, that the
settlement distribution to stockholders, net of expenses, will
exceed $0.50 per share. The timing of the distribution of the
settlement proceeds is now expected to be no later than June 30,
2024. Stockholders who are members of the class do not need to take
action to receive the distribution.
Stockholders are invited to contact Aaron Morris of Morris
Kandinov LLP, aaron@moka.law, for additional information.
About Special Opportunities Fund, Inc. and Bulldog Investors,
LLP:
Special Opportunities Fund, Inc. is an SEC-registered closed-end
investment company that, under appropriate circumstances, employs
activist strategies, including litigation, to enhance the value of
its investments. (www.specialopportunitiesfundinc.com)
Bulldog Investors, LLP is an SEC-registered investment adviser
that manages SPE and separately managed accounts.
(www.bulldoginvestors.com)
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version on businesswire.com: https://www.businesswire.com/news/home/20240506317442/en/
U.S. Bank Global Fund Services – John Buckel (414) 516-1514
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