BFT - Why Shares of Foley Trasimene Acquisition Are Soaring Today
Shares of Foley Trasimene Acquisition II (NYSE: BFT) gained as much as 14% on Tuesday after the blank-check company announced it found a partner. Foley Trasimene intends to merge with Paysafe Group, an online payment company, and investors are excited about the possibilities.
It's been a big year for SPACs , or special purpose acquisition companies, like Foley Trasimene, who come to market via an initial public offering with the intent of finding a privately held company to merge with. Foley Trasimene is backed by William Foley, a billionaire investor and owner of the Las Vegas Golden Knights professional hockey team.
Image source: Getty Images.
For further details see:
Why Shares of Foley Trasimene Acquisition Are Soaring Today