Fortress Capital Acquisition upsized its IPO 17 percent by offering 5 million additional units at $10 each to raise $350 million. The initial planned raise was for $300 million.
The SPAC plans to focus on financial services companies, including services and technology businesses that provide support to the sector.
Fortress Capital is led by Chairman and CEO Michael Nierenberg, who is CEO of publicly traded REIT New Residential Investment Corp.
The SPAC’s units begin trading today on the NYSE under FCAX.U. Read more.
