Fast Acquisition in a filing today said Doug Jacob resigned his position Nov. 10 as Co-CEO and member of the board. The SPAC said the board appointed Michael Lastoria as a Class III member on Nov. 11. Lastoria is an entrepreneur with extensive experience in the reastuarant business. Following the transitions, Sandy Beall remains CEO of the SPAC. Read more.
Terms call for Cellebrite to receive $580 million in cash, including a $300 million PIPE.
Announced last month, the transaction is expected to provide up to $650 million in gross cash proceeds to the combined company, including up to $403 million of cash held in Supernova’s trust, a fully committed $200 million common stock PIPE and a $50 million direct investment.