FAST Acquisition II in an 8-K said its sponsor will deposit $250,000 into trust so that the SPAc may extend its completion window from Sept 18 to Oct. 18.
Global entertainment development company Falcon’s Beyond and FAST II entered into a merger agreement in July 2022. At that time the deal has pro forma enterprise value of approximately $1 billion.
The transaction was initially expected to deliver up to $282 million in gross cash proceeds, including a $60 million PIPE, prior to expenses. However, ahead of an extension vote in March, redemptions totaling $153.24 million left approximately $72.42 million remain in the FAST II trust.
FAST II raised $200 million in a March 20211 IPO. Read more.
