FTAC Emerald Acquisition, a blank check company led by SPAC veteran Betsy Cohen targeting sustainable businesses, raised $220 million by offering 22 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
FTAC Emerald Acquisition is led by Chairman Betsy Cohen, the founder and former CEO of The Bancorp, and CEO Bracebridge Young Jr., the Executive Chairman of global asset manager Arabesque USA. The company plans to target businesses that facilitate and advance a sustainable future, focusing on those with meaningful potential for delivering financial, social, and environmental value.
FTAC Emerald Acquisition plans to list on the Nasdaq under the symbol EMLDU. Goldman Sachs acted as sole bookrunner on the deal.
