Fast Acquisition Corp (NYSE: FST) stock price is on the rise on Thursday afternoon following a rumor that landrysinc.com will use SPAC as a way to go public.
Texas billionaire and Houston Rockets owner Tilman Fertitta is in talks to take his casino and restaurant empire public through a merger with FAST Acquisition Corp. $FST according to Bloomberg, citing people with knowledge of the matter.source
The Houston Chronicle reported in April 2020 that at the start of the pandemic Mr. Fertitta furloughed 45,000 employees — which is nearly 75 percent of his workforce — and borrowed $300M, agreeing to pay lenders close to 13 percent interest on the money.
Landry’s will trade on the NYSE stock exchange under the ticker symbol FST but this will change once deal is completed. The deal is expected to close around the end of the 2nd quarter of 2021.