Fortress Investment Group LLC Forms a Blank-Check Company Looking at the Financial Services Sector

According to paperwork filed with the SEC, Fortress Capital Acquisition Corp. has been formed by Fortress Investment Group LLC. This deal registers 30 million units of securities for public trading on the NYSE. Additionally Fortress Capital Acquisition Corp. has registered another 4.5 million units for public trading with this deal. However these are issuable to the underwriters upon the exercise of a 45-day option to cover any over-allotments, if any. Therefore the deal will be worth $300 million without the exercise of over-allotment option or $345 million with the full exercise of over-allotment options. Citigroup Global Markets Inc., and Goldman Sachs & Co. LLC are serving as underwriters for this deal. The underwriters' for this deal is $0.55 per share.

Each unit consists of 1...

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