Pico, a provider of technology, data and analytic services for the financial markets, and FTAC Athena Acquisition today announced a definitive agreement for a business combination that values the combined enterprise at $1.4 billion. Pico would list on the Nasdaq.
The transaction includes $250 million in gross proceeds from FTAC Athena’s cash in trust (assuming no redemptions) and $200 million in gross proceeds from a fully committed PIPE from strategic and institutional investors including Golden Gate Capital and Wellington Management. Following the transaction, the company is expected to have up to $426 million in cash.
FTAC Athena is led by serial SPAC dealmaker Betsy Cohen. Read more.