Falcon’s Beyond Global, a fully integrated development enterprise for IP-driven parks, resorts, media and merchandise, has announced that it will ring the Nasdaq opening bell on 10 October.
The news follows the closure of the firm’s former business combination (“the Business Combination”) with FAST Acquisition Corp. II, which had contributed to Falcon’s Beyond raising more than $100 million in gross proceeds to support its growth strategy.
The sum includes previously announced and concluded private and strategic investments in the Company and its subsidiaries by existing investors following the announcement of the Business Combination, as well as money received from FAST II’s trust account.
The FAST II units, Class A common stock, and warrants have ceased trading and have been voluntarily delisted from NYSE in accordance with the closing of the Business Combination.
On 6 October, Falcon’s Beyond Global Inc. (the parent company that became public as a result of the Business Combination, “PubCo”), began trading its Class A common stock, Series A preferred stock, and warrants on Nasdaq under the ticker symbols “FBYD,” “FBYDP,” and “FBYDW”.
Opening bell ceremony
FAST II shareholders held a special meeting on 26 September to approve the Business Combination. Falcon’s Beyond’s executive chairman and co-founder Scott Demerau, CEO and co-founder Cecil D Magpuri, president Simon Philips, and management team will remain in their current positions.
Demerau comments: “Listing on Nasdaq is not only a momentous occasion for Falcon’s Beyond, it also enables us to scale globally and continue delivering some of the most innovative entertainment experiences in the world. It was an honor to partner with the exceptional management team at FAST II, and we look forward to their ongoing contributions as members of our Board of Directors.
“As a publicly traded company, we are well-positioned to continue expanding our IP and leverage critical partnerships, including our joint venture with Meliá Hotels International, our partner that provides critical access to real estate, as well as our joint venture with Raging Power Limited, an arm of K11, the Hong Kong-based cultural commerce giant. This transaction is a game changer for our business as we look to capitalize on significant white space opportunities in front of us.”
Magpuri adds: “Falcon’s Beyond is excited to close this transformative transaction with FAST II and officially become a publicly traded company on a major US stock exchange. Now, more than ever, we are poised to deliver extraordinary entertainment experiences and visionary stories through our vast array of products, platforms and IP.
“As we debut on the public markets, we intend to employ the capital we have raised to continue turning imagined worlds into reality and providing innovative entertainment experiences rooted in renowned IP franchises. On behalf of the entire team, I would like to extend my gratitude to Doug Jacob and the rest of the FAST II team for supporting us on this exciting journey.”
Doug Jacob, founder of FAST II, says: “FAST II is thrilled to have played a key role in taking this entertainment innovator to the public markets. Scott, Cecil, Simon and the entire exceptional management team at Falcon’s Beyond continue to execute on their robust growth plans and strategy, which are fueled by partnerships with some of the industry’s leading entertainment brands.
“I am excited to continue to play a role in this company’s promising growth story by serving on its Board of Directors and having the opportunity to continue to work closely with its leaders.”
Falcon’s Beyond will ring the opening bell at Nasdaq to mark the completion of the Business Combination. This ceremony will take place on 10 October at 9.30 am ET, and both the live event and recording can be watched online by clicking here.
Falcon’s Beyond Global was recently honoured with the Central Florida Top Workplaces 2023 Award by Orlando Top Workplaces.
