FTAC Emerald Acquisition Corp. Announces Pricing of $220,000,000 Initial Public Offering
December 15 2021 - 7:23PM
FTAC Emerald Acquisition Corp. (NASDAQ: EMLDU) (the “Company”), a
blank-check company led by Betsy Z. Cohen, as Chairman of the
Board, Mark Tercek, as Vice-Chairman of the Board, and Bracebridge
H. Young, Jr., as President and Chief Executive Officer, formed for
the purpose of acquiring or merging with one or more businesses,
today announced the pricing of its initial public offering of
22,000,000 units at a price of $10.00 per unit, for gross proceeds
to the Company of $220,000,000. The Company's units will be listed
on the Nasdaq Global Market (NASDAQ) under the symbol "EMLDU" and
will begin trading on December 16, 2021. Each unit issued in the
offering consists of one share of Class A common stock of the
Company and one-half of one redeemable warrant, each whole warrant
exercisable for one share of Class A common stock at an exercise
price of $11.50 per share. Once the securities comprising the units
begin separate trading, the Class A common stock and warrants are
expected to be listed on NASDAQ under the symbols “EMLD” and
“EMLDW,” respectively. No fractional warrants will be issued upon
separation of the units and only whole warrants will trade. The
closing of the offering is anticipated to take place on or about
December 20, 2021, subject to customary closing conditions.
Goldman Sachs & Co. LLC is serving as the sole book-running
manager for the offering. The Company has granted the underwriter a
45-day option to purchase up to an additional 3,300,000 units at
the initial public offering price to cover over-allotments, if
any.
A registration statement relating to the units and the
underlying securities was declared effective by the Securities and
Exchange Commission (SEC) on December 15, 2021. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of, these securities in
any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus.
When available, copies of the prospectus may be obtained from
Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282,
Attn: Prospectus Department, by telephone at 866-471-2526 or by
emailing prospectus-ny@ny.email.gs.com. Copies of the registration
statement can be accessed for free through the SEC's website
at www.sec.gov.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering. No assurance can be given that such offering will
be completed on the terms described, or at all. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's registration statement and
preliminary prospectus for the offering filed with the SEC. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this press release, except
as required by law.
Contact Information:
Amanda Abrams amanda@ftspac.com (215) 701-9693
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