Fortress Value Acquisition V Shares Quiet as SPAC Deals Continue
Fortress Value Acquisition Corp. V hovered at $10.10 Wednesday, mostly flat as trading volume stayed low. The Nasdaq-listed SPAC sat at $10.09, down 0.36%, according to Google Finance, with only 104 shares changing hands. That left its market cap at about $364 million. That’s important since FVAV remains a cash-and-deal SPAC for now. The company has no operating business behind it and holds mostly cash and short-term investments until it finds a private company to acquire or merge with. A SPAC, or special purpose acquisition company, does this after raising funds through a listing.