Betsy Cohen’s SPAC, FTAC Athena Acquisition recently terminated its agreement to take Pico public. The original reverse merger announcement was made by the financial-connectivity firm in August 2021; at the time, the combined valuation was anticipated to be around $1.8B. On the news of the termination, shares of FTAC Athena fell 0.9%. The announcement follows a growing trend of SPAC transaction cancellations as the market cools.
Betsy Cohen’s SPAC FTAC Athena terminates $1.8B deal with fintech firm Pico