Fortress SPAC raises $200m for IPO

Fortress Value Acquisition Corp III, a blank check company formed by Fortress Investment Group, has gone public after pricing its 20 million shares at $10 per share.

Fortress Value Acquisition Corp III, a blank check company formed by Fortress Investment Group, has gone public after pricing its 20 million shares at $10 per share. The stock began trading January 5, 2021 on the New York Stock Exchange under the ticker symbol “FVT.U.” Deutsche Bank Securities Inc. and BofA Securities Inc are serving as underwriters.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Fortress Value Acquisition Corp. III (the “Company”), a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “FVT.U” beginning January 5, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “FVT” and “FVT WS,” respectively.

Deutsche Bank Securities Inc. and BofA Securities, Inc. are serving as the underwriters for the offering.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: prospectus.cpdg@db.com or BofA Securities, Inc., Attention: Prospectus Department, C1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or by emailing: dg.prospectus_request@bofa.com.