On July 12, 2022, Falcon’s Beyond, a leading fully integrated global entertainment development company specializing in intellectual property (“IP”) creation and expansion, and FAST Acquisition Corp. II (“FAST II”), a special purpose acquisition company (“SPAC”), announced that they have entered into a definitive merger agreement that is expected to result in Falcon’s Beyond becoming a publicly listed company on Nasdaq.

The combined entity is expected to have a pro forma enterprise value of approximately $1.0 billion. Falcon’s Beyond expects to receive up to $282 million of gross cash proceeds through the transaction, assuming no redemptions from FAST II’s existing stockholders and including $60 million in a private placement investment by Katmandu Collections LLLP, an existing holder of equity in Falcon’s Beyond, of which $20 million has been pre-funded and deployed to Falcon’s Beyond’s investment in its Punta Cana resort.

The transaction offers downside protection for FAST II stockholders through (1) the automatic conversion of 50% of FAST II’s existing public stockholders’ position into convertible preferred equity and (2) a bonus pool of common shares allocated to private placement investors and non-redeeming FAST II stockholders. The transaction is expected to close in either the second half of 2022 or the first quarter of 2023.

Opportune Partners LLC, an independent investment banking and financial advisory affiliate of Opportune LLP, advised the Board of Directors of FAST II and rendered a fairness opinion in connection with the SPAC transaction.

Securities are offered through Opportune Partners LLC, member FINRA/SIPC, an affiliated entity.

READ MORE: Fairness Opinion Could Give SPAC Target Companies Peace Of Mind

About Falcon’s Beyond

Headquartered in Orlando, Florida, Falcon’s Beyond is a fully integrated, top-tier experiential entertainment development enterprise focusing on a 360° IP Expander™ model. The company brings its own proprietary and partner IPs to global markets through owned and operated theme parks, resorts, attractions, patented technologies, feature films, episodic series, consumer products, licensing, and beyond. The company has won numerous design awards and provided design services in 40 countries around the world, turning imagined worlds into reality.

About FAST Acquisition Corp. II

FAST II is a hospitality and consumer entertainment-focused blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. FAST II was founded by Doug Jacob and headed by Sandy Beall as Chief Executive Officer. FAST II raised $222 million in its initial public offering on March 15, 2021 and is listed on NYSE under the ticker symbol “FZT.”

Opportune Partners LLC , an affiliate of Opportune LLP, is a member of the Opportune Network, and is a member of FINRA and SIPC. Opportune Partners LLC is not engaged in the practice of public accountancy. Privacy and Business Continuity Plan.