FTAC Zeus Acquisition Corp. Announces Completion of $402.5 Million Initial Public Offering, Including Full Exercise of Over-Allotment Option
PHILADELPHIA, PA, Nov. 23, 2021 (GLOBE NEWSWIRE) -- FTAC Zeus Acquisition Corp. (NASDAQ:ZINGU) (the “Company”), a blank-check company led by Daniel G. Cohen as Chairman of the Board and Ryan M. Gilbert as President and Chief Executive Officer formed for the purpose of acquiring or merging with one or more technology and financial services technology companies, today announced the completion of its initial public offering of 40,250,000 units at a price of $10.00 per unit, which includes 5,250,000 units issued pursuant to the full exercise of the underwriter’s over-allotment option, for gross proceeds to the Company of $402,500,000. The Company's units began trading on the Nasdaq Global Market under the symbol "ZINGU" on November 19, 2021. Each unit issued in the offering consists of one share of Class A common stock of the Company and one-half of one 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 “ZING” and “ZINGW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Citigroup Global Markets Inc. acted as the sole book-running manager for the offering.
A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on November 18, 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, copies of which may be obtained by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel: 800-831-9146. Copies of the registration statement can be accessed for free through the SEC's website at www.sec.gov.
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. 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 prospectus for the offering filed with the Securities and Exchange Commission. 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.
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