FTAC Parnassus Acquisition Corp. Class A Common Stock and Warrants to Commence Trading Separately on May 3, 2021

Rhea-AI Summary

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.

Positive

• Holders can trade Class A shares and warrants separately, increasing trading flexibility.
• Cantor Fitzgerald & Co. is a reputable book-running manager for the offering.

Negative

• None.

PHILADELPHIA, PA, April 27, 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 that the holders of the Company’s units may elect to separately trade the Class A common shares and warrants underlying the units commencing on May 3, 2021. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “FTPAU” and the Class A common shares and warrants are expected to trade under the symbols “FTPA” and “FTPAW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Cantor Fitzgerald & Co. served as the sole book-running manager for the offering. 

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.” 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 press release, except as required by law.

Contact Information:

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

FAQ

What is the significance of FTAC Parnassus Acquisition Corp. separately trading shares and warrants?

Separately trading shares and warrants allows investors greater flexibility and the potential for enhanced market participation.

When will the Class A common shares and warrants for FTPAU start trading?

Class A common shares and warrants will start trading separately on May 3, 2021.

What symbols will the Class A common shares and warrants trade under?

The Class A common shares will trade under the symbol 'FTPA,' and the warrants under 'FTPAW.'

Who managed the offering for FTAC Parnassus Acquisition Corp.?

Cantor Fitzgerald & Co. served as the sole book-running manager for the offering.

What is the purpose of the press release regarding FTAC Parnassus Acquisition Corp.?

The press release is to inform about the start of separate trading for Class A common shares and warrants, enhancing investor options.