&vest's SPAC FAST Acquisition II prices $200 million IPO

FAST Acquisition II, the third blank check company formed by &vest targeting dining and hospitality, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.

The company is led by CEO and Director Sandy Beall, the founder of Ruby Tuesday, co-founder of luxury hotel and resort Blackberry Farm, and Principal of Beall Investments; and Chairman Kevin Reddy, whose previous roles include serving as CEO of Noodles & Company and COO of Chipotle. The company plans to target the restaurant, hospitality, and related sectors in North America.

Management's previous SPACs include Velocity Acquisition (VELOU; +1% from $10 offer price), which went public in February 2021, and FAST Acquisition (FST; +31%), which went public in August 2020 and has a pending merger agreement with Golden Nugget/Landry's parent company Fertitta Entertainment.

FAST Acquisition II plans to list on the NYSE under the symbol FZT.U. Jefferies acted as a lead manager on the deal.