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FTAC Parnassus Acquisition Corp. (NASDAQ:FTPA) announced plans to dissolve and liquidate after failing to complete a business combination by the deadline. Effective March 16, 2023, the company will redeem all outstanding Class A common stock shares at approximately $10.13 each. Following this, Public Shares will be canceled and considered only as a claim for redemption. The company's trustees will liquidate securities from a trust account for disbursement, with estimated payouts minus certain expenses. Additionally, the Nasdaq will delist the company's securities and terminate registration under the Securities Exchange Act of 1934.
FTAC Parnassus Acquisition Corp. (NASDAQ:FTPA) announced it received a Nasdaq notice for failing to timely file its Quarterly Report on Form 10-Q for the period ending March 31, 2021. This puts the company out of compliance with Nasdaq Listing Rule 5250(c)(1). The notice does not immediately affect trading of its securities. The company has until July 26, 2021, to present a plan for regaining compliance, which could grant an extension until November 22, 2021, if accepted. The delay is due to evaluating the impact of accounting considerations for warrants issued by SPACs.
FTAC Parnassus Acquisition Corp. (NASDAQ:FTPAU) has announced that holders of its units can begin separately trading Class A common shares and warrants starting May 3, 2021. The units will continue to trade under the symbol 'FTPAU,' while the Class A shares and warrants will trade under 'FTPA' and 'FTPAW,' respectively. Cantor Fitzgerald & Co. acted as the sole book-running manager for this offering. The press release also includes forward-looking statements subject to various risks and conditions.
FTAC Parnassus Acquisition Corp. (NASDAQ:FTPAU) announced the successful completion of its initial public offering, raising $250 million by issuing 25 million units at $10.00 each. The offering included an over-allotment option of 3 million units. Each unit comprises one share of Class A common stock and one-fourth of a warrant, with the warrants exercisable at $11.50 per share. The company's units began trading on the Nasdaq Capital Market on March 12, 2021, with future trading expected under the symbols FTPA and FTPAW.
FTAC Parnassus Acquisition Corp. (NASDAQ:FTPAU) has priced its initial public offering, raising $220 million by offering 22 million units at $10.00 each. The units will start trading on the Nasdaq Capital Market on March 12, 2021. Each unit comprises one share of Class A common stock and one-fourth of a warrant, with a full warrant exercisable at $11.50. The offering is expected to close around March 16, 2021, pending customary conditions. Cantor Fitzgerald & Co. is the sole book-running manager and has the option to purchase an additional 3.3 million units to cover overallotments.
