FAST Acquisition, a blank check company formed by &vest and Sandy Beall targeting a restaurant or hospitality business, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a redeemable warrant, exercisable at $11.50.
The company is led by Co-CEOs Sandy Beall and Doug Jacob.
The company plans to target businesses in the restaurant, hospitality, and related sectors in North America with EBITDA of $40 million to $150 million and an enterprise value of $600 million or more.
FAST Acquisition plans to list on the NYSE under the symbol FST.U. Citi and UBS Investment Bank acted as lead managers on the deal.
