FTAC Parnassus Acquisition Corp., a blank-check company formed for the purpose of acquiring or merging with one or more technology and financial services technology companies, priced its initial public offering of 22,000,000 units at a price of $10.00 per unit, for gross proceeds to the company of $220,000,000. The company’s units are listed on the Nasdaq Capital Market under the symbol “FTPAU.” Each unit issued in the offering consists of one share of Class A common stock of the company and one-fourth 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 shares and warrants are expected to be listed on NASDAQ under the symbols “FTPA” and “FTPAW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The closing of the offering is anticipated to take place on or about March 16, subject to customary closing conditions.
Cantor Fitzgerald & Co. is serving as the sole book-running manager for the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 3,300,000 units at the initial public offering price to cover over-allotments, if any.