FTAC Olympus Acquisition (OTCMKTS:FTOCU) is a special purpose acquisition company (SPAC) incorporated in Delaware to raise capital through an initial public offering, with the objective of effecting a merger, share exchange, asset acquisition or similar business combination. Like other blank‐check vehicles, FTOCU holds the proceeds of its offering in a trust account until it identifies and completes a qualifying transaction within a specified time frame.
The company is sponsored by FTAC Partners, an investment firm that partners with experienced operators and industry veterans to pursue acquisition opportunities primarily in the technology, media and telecommunications sectors. FTOCU’s management team brings backgrounds in private equity, investment banking and corporate development, drawing on deal-sourcing networks across North America and select overseas markets.
As of its IPO, FTAC Olympus Acquisition has not publicly announced a definitive target or business combination. Once a transaction is approved by the SPAC’s board of directors and its public shareholders, the combined entity will transition to operating as an ongoing public company, retaining the ticker symbol of FTOCU or a new symbol if a name change is approved.
Headquartered in New York, FTAC Olympus Acquisition leverages its sponsor’s capital markets expertise and industry relationships to identify and negotiate transactions that aim to create long-term value for public shareholders. The SPAC structure provides target companies with access to a fully funded merger partner and streamlined public listing process.
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