Fortistar Sustainable Solutions Corp. Announces Pricing of Upsized $225 Million Initial Public Offering

Rhea-AI Summary

Fortistar Sustainable Solutions Corp. announced the pricing of its initial public offering (IPO) of 22,500,000 units at $10.00 each. The units will trade on NASDAQ under the symbol 'FSSIU' starting January 27, 2021. Each unit includes one share of Class A common stock and one-half of a redeemable warrant, with each whole warrant allowing the purchase of an additional share at $11.50. Credit Suisse and BofA Securities are the underwriters, with a 45-day option for an additional 3,375,000 units to cover over-allotments. The SEC has declared the offering effective as of January 26, 2021.

Positive

• Successful IPO pricing of 22,500,000 units at $10.00 each, reflecting solid investor interest.
• Underwriters have a 45-day option for increased units, which could enhance funding.
• Class A common stock and warrants set for separate trading, potentially increasing liquidity.

Negative

• No assurance that the offering will be completed as described or that a business combination will occur.

NEW YORK, Jan. 26, 2021 /PRNewswire/ -- Fortistar Sustainable Solutions Corp. (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 22,500,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market and trade under the ticker symbol "FSSIU" beginning January 27, 2021. Each unit consists of one share of the Company's Class A common stock and one-half 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. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and redeemable warrants are expected to be listed on the NASDAQ Capital Market under the symbols "FSSI" and "FSSIW," respectively.  

Credit Suisse and BofA Securities are serving as the underwriters for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,375,000 units at the initial public offering price to cover over-allotments, if any.  

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, telephone: 1-800-221-1037 or by emailing: usa.prospectus@credit-suisse.com or from BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 or by emailing: dg.prospectus_request@bofa.com.  

The registration statements relating to the securities have been declared effective by the Securities and Exchange Commission ("SEC") on January 26, 2021. 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.  

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and search for and/or completion of an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will complete an initial business combination. 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 statements and preliminary prospectus for the Company's 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.  

Contact:

Fortistar Sustainable Solutions Corp.
1 North Lexington Ave
White Plains, NY 10601
T: 914-421-4900
FSSI@fortistar.com

View original content:http://www.prnewswire.com/news-releases/fortistar-sustainable-solutions-corp-announces-pricing-of-upsized-225-million-initial-public-offering-301215787.html

SOURCE Fortistar Sustainable Solutions Corp.

FAQ

What is the pricing of Fortistar Sustainable Solutions Corp's IPO?

The IPO is priced at $10.00 per unit for 22,500,000 units.

When will the units of Fortistar Sustainable Solutions Corp start trading?

The units will begin trading on NASDAQ under the symbol 'FSSIU' on January 27, 2021.

What is included in each unit of the IPO?

Each unit consists of one share of Class A common stock and one-half of a redeemable warrant.

What is the exercise price for the warrant associated with Fortistar Sustainable Solutions Corp's units?

Each whole warrant allows the purchase of one share of Class A common stock at $11.50.

Who are the underwriters for Fortistar Sustainable Solutions Corp's IPO?

Credit Suisse and BofA Securities are serving as the underwriters.