Federal Street Acquisition, a blank check company formed by the Co-President of Thomas H. Lee Partners to acquire a healthcare business, announced terms for its IPO on Wednesday.
The Boston, MA-based company plans to raise $400 million by offering 40 million shares at a price of $10. At that price, Federal Street Acquisition would command a market value of $500 million.
Federal Street Acquisition was founded in 2017 and it plans to list on the Nasdaq under the symbol FSACU. Citi and BofA Merrill Lynch are the joint bookrunners on the deal.
