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FAST Acquisition Corp. (FST)

NYSE - NYSE Delayed Price. Currency in USD
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10.73+0.04 (+0.37%)
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Commodity Channel Index

Commodity Channel Index

Previous Close10.69
Bid10.69 x 2900
Ask10.84 x 800
Day's Range10.60 - 10.73
52 Week Range9.59 - 12.45
Avg. Volume251,313
Market Cap268.25M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Tilman Fertitta's Restaurant, Casino Group In Talks With Fast Acquisition SPAC

    Tilman Fertitta's Restaurant, Casino Group In Talks With Fast Acquisition SPAC

    Billionaire Tilman Fertitta is in talks to take another business unit public via a SPAC.What Happened: Fertitta is in talks to take his casino and dining assets public via SPAC Fast Acquisition Corp (NYSE: FST), according to a Thursday Bloomberg report. The deal, which could be announced next week, would value the assets at $7 billion including debt. Fertitta had weighed an IPO to bring the assets public as well. Sources say Fertitta would still maintain majority control of the company, Bloomberg reported. Fast Acquisition raised $200 million in its SPAC offering. The company is in talks to raise $1 billion in new equity to complete the deal.Related Link: 10 SPACs Trading Under For Investors To Consider In 2021Why It's Important: The assets that would be included in the SPAC deal include the Del Frisco's Steakhouse, Morton's The Steakhouse, McCormick & Schnick's and Bubba Gump Shrimp Co. restaurant chains. Casinos under the Golden Nugget brand are located in Atlantic City, New Jersey; Biloxi, Mississippi; Lake Charles, Louisiana; Las Vegas, Nevada; and Laughlin, Nevada. The online sports betting and iGaming portion of the casino business went public in an earlier SPAC deal and now trades as Golden Nugget Online (NASDAQ: GNOG).The restaurant group was previously public from 1993 to 2010 before being taken private by Fertitta in a $1.4-billion deal. Fertitta began his casino interests after buying the restaurant unit out.Price Action: Shares of Fast Acquisition were down 3.37% at $10.89 at last check Friday.Shares hit highs of $12.35 Thursday, trading 20% higher on the Bloomberg report.See more from Benzinga * Click here for options trades from Benzinga * Playtika IPO: What Investors Need To Know * Intel-Backed Lidar Company AEye In SPAC Talks: Report(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Tilman Fertitta Is in Talks to List Casino, Dining Assets Via SPAC

    Tilman Fertitta Is in Talks to List Casino, Dining Assets Via SPAC

    (Bloomberg) -- Texas billionaire and Houston Rockets owner Tilman Fertitta is in talks to take his casino and restaurant empire public through a merger with blank-check firm Fast Acquisition Corp., according to people with knowledge of the matter.The special purpose acquisition company is in talks to raise more than $1 billion in new equity to support a transaction, said the people, who asked to not be identified because the matter isn’t public. The deal could value the combined entity at up to $7 billion including debt, one of the people added.The new company, which Fertitta would still control, is set to include casinos and restaurants under the Golden Nugget and Landry’s umbrellas, they said. If talks are successful, a deal could be announced n the coming weeks. Terms may change and discussions could still fall apart.Representatives for Golden Nugget and Fast Acquisition declined to comment.Shares in Fast Acquisition rose as high as 19% on the news and were trading at 5.6% at $11.05 at 3:48 p.m. in New York.Fertitta has been mulling options including a potential initial public offering of part of the unit, Bloomberg News reported in December. The 63-year-old, with a net worth of around $6 billion, according to the Bloomberg Billionaires Index, is no stranger to SPACs.In addition to the Golden Nugget casinos, the company operates hundreds of restaurants under the Landry’s umbrella, including Del Frisco’s steakhouse, Morton’s The Steakhouse, McCormick & Schmick’s and Bubba Gump Shrimp Co.In December, Golden Nugget Online Gaming Inc., an online gaming and digital sports entertainment company led by Fertitta, closed its merger with Landcadia Holdings II Inc., a vehicle co-sponsored by Fertitta Entertainment Inc. and Jefferies Financial Group Inc. An earlier vehicle, Landcadia Holdings Inc., in 2018 merged with app-based restaurant platform Waitr Holdings Inc. A third vehicle, Landcadia Holdings III Inc., raised $500 million last year to pursue a transaction.Fast Acquisition raised $200 million last year and said it would focus on a target in the North American restaurant, hospitality and related sectors.Fertitta first took his restaurant business public in 1993, operating it that way until 2010 when he took the company private in a $1.4 billion leveraged buyout. By then Fertitta was already expanding into casinos with the acquisition of the Golden Nugget brand. In 2017, he agreed to buy the Houston Rockets for $2.2 billion, a deal that added more debt to his empire.(Updates with share price move starting in the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.