Fortress Value Acquisition Corp. IV Announces Pricing of $600 Million Initial Public Offering

Rhea-AI Summary

Fortress Value Acquisition Corp. IV announced its initial public offering pricing of 60,000,000 units at $10.00 each, set to trade under the ticker symbol FVIV.U on the New York Stock Exchange starting March 16, 2021. Each unit comprises one Class A common stock share and one-eighth of a redeemable warrant, with the whole warrant allowing for stock purchase at $11.50/share. Underwriters include Deutsche Bank Securities, BofA Securities, and PJT Partners, with a 45-day option for an additional 9,000,000 units to cover over-allotments.

Positive

• Initial public offering pricing of 60,000,000 units at $10.00 each indicates strong investor interest.
• Listing on the New York Stock Exchange enhances visibility and credibility for the company.
• Potential for additional funding through the 45-day option for 9,000,000 extra units.

Negative

• No assurance that the offering will be completed as described or that net proceeds will be used as anticipated.

Fortress Value Acquisition Corp. IV (the “Company”), a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 60,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “FVIV.U” beginning March 16, 2021. Each unit consists of one share of the Company’s Class A common stock and one-eighth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “FVIV” and “FVIV WS,” respectively.

Deutsche Bank Securities Inc., BofA Securities, Inc. and PJT Partners LP are serving as the underwriters for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 9,000,000 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 may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or email: prospectus.cpdg@db.com or BofA Securities, Inc., Attention: Prospectus Department, C1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or by emailing: dg.prospectus_request@bofa.com.

A registration statement relating to the securities has been declared effective by the Securities and Exchange Commission (“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.

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net 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 and preliminary prospectus for the Company's 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210315005750/en/

FAQ

What is Fortress Value Acquisition Corp. IV's initial public offering price?

The initial public offering price is $10.00 per unit.

When will Fortress Value Acquisition Corp. IV begin trading on the NYSE?

Trading will begin on March 16, 2021, under the ticker symbol FVIV.U.

What does each unit consist of in Fortress Value Acquisition Corp. IV's IPO?

Each unit consists of one share of Class A common stock and one-eighth of a redeemable warrant.

Who are the underwriters for Fortress Value Acquisition Corp. IV's offering?

The underwriters are Deutsche Bank Securities, BofA Securities, and PJT Partners.

What is the purpose of the 45-day option for additional units in the IPO?

The option allows underwriters to purchase up to an additional 9,000,000 units to cover over-allotments.