FTAC Zeus Acquisition Corp.
ZINGU
NASDAQ Global Market10.47
USD
+0.01
- -
CIK
0001844270
CUSIP
30320F205
Return %
Stock
S&P500
1Y
5.65
26.53
3Y
3.66
76.60
5Y
3.66
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Ryan Mark Gilbert
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 2929 Arch Street Philadelphia PA United States of America 19104-2870
- IPO Date
- Nov 19, 2021
- CIK
- 0001844270
- Similar Companies
- Business
- FTAC Zeus Acquisition Corp. (NASDAQ: ZINGU) operates as a blank check company, or special purpose acquisition company (SPAC), whose principal business activity is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar initial business combination with one or more businesses; it focuses primarily on high-growth opportunities in technology and financial services technology, or fintech, sectors that drive transformation and innovation. The company conducts no significant operations and generates no revenue prior to completing its initial business combination. It trades in units comprising one share of Class A common stock and one-half of one redeemable warrant, exercisable at $11.50 per whole warrant. Founded in 2020 and headquartered at 2929 Arch Street, Suite 1703, in Philadelphia, Pennsylvania, FTAC Zeus Acquisition Corp. completed an upsized initial public offering in November 2021, raising gross proceeds of $402.5 million through the sale of 40.25 million units at $10.00 each, underwritten by Citigroup Global Markets Inc. The company originally went public under the name FTAC Hera Acquisition Corp. before changing to its current name in February 2021. Its securities are listed on the Nasdaq Capital Market, with Class A common stock under ticker ZING, units under ZINGU, and warrants under ZINGW. In recent major developments, FTAC Zeus Acquisition Corp. canceled multiple special stockholder meetings in 2022 and 2023, including those scheduled for December 2022 and August 21, 2023, due to high redemption requests that reduced trust account funds below required thresholds of approximately $125 million, preventing viable business combination proposals. The company announced its intent to dissolve and liquidate on August 23, 2023, in accordance with its amended charter after failing to complete an initial business combination within the prescribed timeframe, redeeming all outstanding public shares at approximately $10.49 per share from the trust account. Despite extensions, including one to August 23, 2023, following a non-binding letter of intent for a potential business combination, and separation of trading for its Class A shares and warrants commencing January 10, 2022, no merger or acquisition materialized, leading to Nasdaq delisting proceedings and termination of SEC registration.