Ropes & Gray represented Deutsche Bank Securities Inc. as underwriter in Fortress Value Acquisition Corp. V's IPO. The underwriter, pursuant to the terms of the underwriting agreement, exercised in full its option to purchase additional shares for a total aggregate issuance of 28,750,000 Class A ordinary shares at a price of $10 per share. The offering closed on Feb. 27 and the full exercise of the over-allotment option closed on March 9. The Class A ordinary shares will be listed on the Nasdaq Global Market and trade under the ticker symbol "FVAV." Ropes & Gray has advised on three SPAC IPOs over the past four weeks.
Fortress Value Acquisition Corp. V is a blank check company sponsored by an affiliate of Fortress Investment Group LLC and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The team was led by capital markets partner Christopher Capuzzi and tax partner Dan Zuckerman.
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