FTAC Parnassus Acquisition Corp. Announces Pricing of $220,000,000 Initial Public Offering
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.
- Initial public offering pricing at $10.00 per unit raises $220 million.
- Strong demand anticipated with a potential for additional 3.3 million units.
- No immediate impact on revenue or market position post-IPO.
PHILADELPHIA, PA, March 11, 2021 (GLOBE NEWSWIRE) -- FTAC Parnassus Acquisition Corp. (NASDAQ:FTPAU) (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 the pricing of its initial public offering of 22,000,000 units at a price of
Cantor Fitzgerald & Co. is serving as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,300,000 units at the initial public offering price to cover over-allotments, if any.
A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on March 11, 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.
The offering is being made only by means of a prospectus, copies of which may be obtained by contacting 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. No assurance can be given that such offering will be completed on the terms described, or at all. 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 preliminary 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 press release, except as required by law.
Contact Information:
Amanda Abrams
amanda@ftspac.com
(215) 701-9693
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