RIDGEFIELD, CT, Aug. 10, 2022 (GLOBE NEWSWIRE) — FAST Acquisition Corp. (the “Company”) (NYSE: FST.U, FST, FST.WS), a special purpose acquisition company, today announced additional information concerning the previously disclosed redemption of all of its outstanding shares of Class A common stock (the “public shares”), effective as of August 26, 2022, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (the “Charter”).
Pursuant to the Charter, and as disclosed in the Company’s registration statement on Form S-1 for its initial public offering and subsequent periodic filings with the United States Securities and Exchange Commission (the “Commission”), if the Company is unable to complete an initial business combination within 24 months from the closing of its initial public offering, or August 25, 2022, the Company is required to: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem its public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Company’s trust account (the “Trust Account”), including interest earned on the funds held in the Trust Account, divided by the number of then outstanding public shares, which redemption will completely extinguish the rights of the public…
