FAST Acquisition Corp. II Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

FAST Acquisition Corp. II has priced its initial public offering (IPO) at $10.00 per unit, amounting to $200 million. The offering will consist of 20 million units, each containing one share of Class A common stock and one-quarter of a warrant. Trading will commence on the NYSE under the ticker symbol FZT.U beginning March 16, 2021. The IPO is aimed at finding a business combination in sectors such as restaurant and hospitality with an enterprise value of at least $800 million. The expected closing date is March 18, 2021.

Positive

• Successful IPO pricing at $10.00, raising $200 million.
• Focus on sectors with high potential, including restaurant and hospitality.
• Significant enterprise value target of $800 million or more for future acquisitions.

Negative

• Uncertainty on the completion of the offering and its terms.
• Potential risks as stated in the Risk Factors section of the registration statement.
• No assurance that the proceeds will be used as indicated.

NEW YORK, March 15, 2021 /PRNewswire/ -- FAST Acquisition Corp. II (the "Company") 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 (the "NYSE") and trade under the ticker symbol "FZT.U" beginning on March 16, 2021.  Each unit consists of one share of Class A common stock of the Company and one-quarter 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.  Once 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 "FZT" and "FZT WS," respectively.  The offering is expected to close on March 18, 2021, subject to customary closing conditions.

FAST Acquisition Corp. II is the third special purpose acquisition company formed by the principals of &vest with the business purpose to effect a business combination with one or more businesses.  While the Company may pursue an initial business combination with a company in any sector or geography, the Company intends to focus its search on the restaurant, hospitality, consumer, and related sectors in North America with an enterprise value of $800 million or greater. &vest is an investment platform led by founder and CEO Doug Jacob.

Jefferies LLC is acting as sole book-running manager for the offering.  The Company has granted the underwriter a 45-day option to purchase up to 3,000,000 additional 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 relating to the offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by e-mail at prospectus_department@jefferies.com.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on March 15, 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.

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 offering discussed above will be completed on the terms described, or at all, or 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.

FAST Acquisition Corp. II Contact:

Chloe Gatta
cgatta@hstrategies.com

View original content:http://www.prnewswire.com/news-releases/fast-acquisition-corp-ii-announces-pricing-of-200-million-initial-public-offering-301247744.html

SOURCE FAST Acquisition Corp.

FAQ

What is the IPO price for FAST Acquisition Corp. II?

The IPO price for FAST Acquisition Corp. II is $10.00 per unit.

How much did FAST Acquisition Corp. II raise in its IPO?

FAST Acquisition Corp. II raised $200 million in its IPO.

When will FAST Acquisition Corp. II start trading on the NYSE?

FAST Acquisition Corp. II will start trading on the NYSE under the ticker symbol FZT.U on March 16, 2021.

What sectors is FAST Acquisition Corp. II targeting for acquisitions?

FAST Acquisition Corp. II is targeting sectors such as restaurant, hospitality, and consumer.

What is the enterprise value target for acquisitions by FAST Acquisition Corp. II?

The enterprise value target for acquisitions by FAST Acquisition Corp. II is $800 million or greater.