FAST Acquisition Corp.
FST-UN
New York Stock Exchange10.15
USD
-0.05
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FAST Acquisition Corp.
FST-UN
(New York Stock Exchange)
Recent
price
10.15
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- FAST Acquisition Corp. FAST Acquisition Corp. (FST-UN) is a blank check company whose principal business activity is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company has no significant operations or revenues and concentrates on targets in the restaurant, hospitality and related sectors in North America. FAST Acquisition Corp. was incorporated in 2020 and maintains its headquarters in Ridgefield, Connecticut. The company does not manufacture or sell products but instead holds cash in trust from its initial public offering, completed in 2020 with 20 million units priced at $10 each, to fund a potential de-SPAC transaction targeting enterprises valued at $600 million or greater. Its services encompass due diligence, negotiation and execution of business combinations, supported by leadership experienced in scaling hospitality and consumer concepts. In recent developments, FAST Acquisition Corp. mutually terminated its merger agreement with Fertitta Entertainment, Inc., originally announced in February 2021 and valued at approximately $6.6 billion, receiving a settlement of up to $33 million in breakup fees comprising cash, loans and expense reimbursements to support working capital and pursuit of alternative targets. The company redeemed all outstanding Class A common stock on August 26, 2022, at approximately $10.02 per share following failure to complete a combination by its deadline, with trading ceasing on August 25, 2022, and proceeded to wind down operations amid shareholder litigation. A $12.5 million settlement of that litigation, approved in early 2025, resolved claims over equitable distribution of net assets including the Fertitta fee, with distributions to eligible stockholders occurring in June 2024 and July 2025, and additional payouts on a rolling basis thereafter.
FST Stock: 12 Things to Know about FAST Acquisition and a Tilman Fertitta SPAC