Arena Fortify Acquisition registered with the SEC to offer 20 million units, each consisting of one share of Class A common stock and one-third of one warrant. Whole warrants will be exercisable at $11.50.
Arena Fortify plans to target companies that have either recently emerged from bankruptcy court protection or will require incremental capital as part of a balance sheet restructuring within the broad natural resources industry.
The SPAC is led by CEO and Chairman Daniel Zwirn, who is also CEO and CIO of Arena Investors, a $2.2 billion investment firm with offices in New York, London and San Francisco focusing on global special situations asset and credit investments in corporates, real estate, structured finance, and corporate securities.
The SPAC intends to apply for a Nasdaq listing under AFACU. Read more.
