FTAC OLYMPUS ACQUISITION CORP. ORDINARY SHARES AND WARRANTS TO COMMENCE TRADING SEPARATELY ON OCTOBER 16, 2020

Rhea-AI Summary

FTAC Olympus Acquisition Corp. (NASDAQ:FTOCU) announced that holders of its units may separately trade Class A ordinary shares and warrants starting October 16, 2020. Unseparated units will continue to trade under the symbol FTOCU, while the Class A shares and warrants will trade under FTOC and FTOCW, respectively. This follows the effectiveness of a registration statement declared by the SEC on August 25, 2020. The press release includes forward-looking statements subject to various conditions, with no obligation for the company to update these statements after the date of the release.

Positive

• Commencement of separate trading for Class A ordinary shares and warrants may enhance liquidity for investors.
• Continued trading under the existing symbol FTOCU provides consistency for current investors.

Negative

• None.

PHILADELPHIA, PA, Oct. 12, 2020 (GLOBE NEWSWIRE) -- FTAC Olympus Acquisition Corp. (NASDAQ:FTOCU) (the “Company”), a blank-check company formed for the purpose of acquiring or merging with one or more technology and financial services technology companies, today announced that the holders of the Company’s units may elect to separately trade the Class A ordinary shares and warrants underlying the units commencing on October 16, 2020. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “FTOCU” and the Class A ordinary shares and warrants are expected to trade under the symbols “FTOC” and “FTOCW”, respectively.

A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on August 25, 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 was made by means of a prospectus, copies of which may be obtained by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel: 800-831-9146; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York 10022; Email: prospectus@cantor.com. Copies of the registration statement can be accessed for free through the SEC's website at www.sec.gov.

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. 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 and prospectus for the offering filed with the Securities and Exchange Commission. 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 Information:

Amanda Abrams
amanda@ftspac.com
(215) 701-9693

FAQ

What is the date for the separate trading of Class A ordinary shares and warrants for FTOCU?

Separate trading for Class A ordinary shares and warrants will commence on October 16, 2020.

Under what symbols will FTOCU's Class A ordinary shares and warrants trade?

Class A ordinary shares will trade under the symbol FTOC, and warrants will trade under FTOCW.

What should investors know about the registration statement for FTOCU?

The registration statement was declared effective by the SEC on August 25, 2020, facilitating the trading of its units and underlying securities.

Are there any risks associated with the forward-looking statements in the FTOCU press release?

Yes, forward-looking statements are subject to numerous conditions beyond the company's control, as outlined in the Risk Factors section of the registration statement.