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Latest Fortress Blank-Check Company Files for $200 Million IPO 

By: Zimbler0 in WRGO | Recommend this post (1)
Sun, 22 Nov 20 4:55 PM | 42 view(s)
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Msg. 11081 of 18626
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What is a 'blank check company' ?

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In the simplest terms, a blank check company is a public entity that doesn't have a purpose or business plan. When it's being used as an instrument for taking a private company public, the blank check company goes public and raises capital. Then it acquires the private business that is meant to become public.Jul 24, 2020
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http://www.morningstar.com/news/dow-jones/202011208370/latest-fortress-blank-check-company-files-for-200-million-ipo

A blank-check company backed by Fortress Investment Group filed for a $200 million initial public offering.

Andrew A. McKnight is the chief executive of Fortress Value Acquisition Corp. III, which will apply for listing on the New York Stock Exchange.

Fortress, part of Softbank Group Corp., launched blank-check companies that completed deals Vivint Smart Home Inc. and MP Materials. Another one held a $300 million IPO in August.

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Zim :
Something about this smells fishy to me.
And if you want to look up something really
fishy . . . try looking up 'naked shorts'.




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Mad Poet Strikes Again.


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