FAST Acquisition Corp. (FST.U) Prices $200M IPO

FAST Acquisition Corp. (FST.U), announced the pricing of its $200 million IPO this evening and the units are expected to begin trading under the symbol “NYSE: FST.U” tomorrow, Friday, August 21st.

The new SPAC will aim its target search at the restaurants and hospitality sectors and will be led by Co-CEOs Sandy Beall and Doug Jacob. Beall is the founder of Ruby Tuesday, while Jacob co-founded restaurant chain Toro.

Total SPAC deal count for 2020 year-to-date is now 76 with $30.5 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, August 25, 2020.

Citigroup Global Markets Inc. and UBS Securities LLC are acting as joint bookrunning managers for the offering and Odeon Capital Group, LLC is acting as co-manager of the offering. White & Case LLP served as Issuer’s Counsel and Skadden, Arps, Slate, Meagher & Flom LLP served as Underwriter’s Counsel. WithumSmith+Brown, PC acted as auditor. Continental Stock Transfer & Trust Company is acting as trustee.