Arena Fortify Acquisition Corp. (AFACU) Prices $150M IPO


Arena Fortify Acquisition Corp. (AFACU) Prices $150M IPO

Arena Fortify Acquisition Corp. announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AFACU” Wednesday, November 10.

The new SPAC intends to focus on acquisition candidates that have either recently emerged from bankruptcy court protection or will require incremental capital as part of a balance sheet restructuring within the broad natural resources industry. Arena Fortify is led by CEO Daniel Zwirn, President Greg White, and CFO Kieran Goodwin.

Total SPAC deal count for 2021 year-to-date is now 536. This offering is expected to close on Monday, November 15.

Cowen and Intrepid Partners are acting as joint book-running managers. Kirkland & Ellis LLP is serving as Issuer’s Counsel with Vinson & Elkins L.L.P. serving as Underwriter’s Counsel. Marcum, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.