The
blank-check company, known earlier as Emerald ESG Acquisition
Corp, is offering 22 million units at $10 each, it said in a
filing.
Cohen-backed SPACs have clinched several deals to take companies
public over the past few years, including ones with boutique
investment bank Perella Weinberg Partners and payments provider
Payoneer.
Since SPACs became Wall Street's hottest investment trend over
the past 18 months, Cohen has emerged as one of the biggest
names in the business of blank-check deals, alongside the likes
of Chamath Palihapitiya and Michael Klein.
She will chair FTAC Emerald's board, according to Monday's
filing. Cohen also has a similar role in nine other blank-check
firms, five of which have completed their mergers and two have
announced their deals.
Emerald ESG Sponsor, a firm managed by Cohen and a backer of
FTAC Emerald, has committed to buy 890,000 units at $10 each in
a private placement, the SPAC said in the filing.
SPACs are publicly traded shell companies with a pool of capital
that merge with unlisted companies to take them public.
FTAC Emerald said it would target companies in sectors such as
renewable energy, water sustainability, agricultural technology,
shared economy software or next-generation mobility.
Goldman Sachs is the sole underwriter for the offering.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by
Ramakrishnan M.)
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