FTAC Zeus Acquisition Corp. - ZINGW STOCK NEWS

FTAC Zeus Acquisition Corp. (NASDAQ:ZING) has canceled its special meeting scheduled for December 21, 2022, due to insufficient trust account funds, which fell below the $125 million threshold due to redemption requests. The company remains focused on completing an initial business combination before its termination date set for August 2023. This decision reflects the company's strategic approach to maintain liquidity and ensure a viable transaction in the future, while also highlighting inherent risks in the SPAC market.

FTAC Zeus Acquisition Corp. (NASDAQ:ZING) announced the postponement of its Special Meeting originally set for December 7, 2022, to December 14, 2022, due to high redemption requests. The Company is required to retain around $125 million in its trust account to proceed with the meeting and associated proposals. Additionally, a non-binding letter of intent for a business combination has been established, extending the deadline for operational liquidation to August 23, 2023. Stockholders can redeem shares until December 12, 2022, prior to the Special Meeting.

FTAC Zeus Acquisition Corp. (NASDAQ:ZINGU) announced that from January 10, 2022, holders of its IPO units (40,250,000 units sold November 23, 2021) can separately trade Class A common shares (ZING) and warrants (ZINGW). Units not separated will continue trading under ZINGU. Citigroup Global Markets Inc. managed the offering, and the registration statement became effective on November 18, 2021. Forward-looking statements are included, and the company qualifies them by stating they may be subject to numerous external conditions.

FTAC Zeus Acquisition Corp. (NASDAQ:ZINGU) has successfully completed its initial public offering of 40,250,000 units at $10.00 each, raising gross proceeds of $402.5 million. This includes 5,250,000 units from the underwriter's over-allotment option. The units began trading on NASDAQ on November 19, 2021. Each unit consists of one Class A common stock share and one-half of one warrant, which is exercisable at an $11.50 price. Citigroup served as the sole book-running manager for this offering.

FTAC Zeus Acquisition Corp. (NASDAQ: ZINGU) has announced the pricing of its upsized initial public offering (IPO) of 35 million units at $10.00 each, generating gross proceeds of $350 million. The units will start trading on Nasdaq under the symbol 'ZINGU' on November 19, 2021. Each unit comprises one share of Class A common stock and a half warrant, which can be exercised for one share at $11.50. The IPO's closing is expected on or about November 23, 2021, contingent on customary conditions. Citigroup Global Markets Inc. is the sole book-running manager for the offering.