FAST Acquisition II in a regulatory filing said it issued a convertible promissory note to its sponsor for a working capital loan of up to $600,000. The full amount may be converted into the SPAC’s warrants at $1.50 each.
The SPAC raised $200 million in a March 2021 IPO. FAST II intends to focus its search on the restaurant, hospitality, consumer, and related sectors in North America with an enterprise value of $800 million or greater. Read more.
