BOSTON--(BUSINESS WIRE)--Federal Street Acquisition Corp, a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 40,000,000 units at a price of $10.00 per unit. The units will be listed on the NASDAQ Capital Market and trade under the ticker symbol “FSACU” beginning July 19, 2017. Each unit consists of one share of the Company’s Class A common stock and one-half of one warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NASDAQ Stock Market under the symbols “FSAC” and “FSACW,” respectively.

Citigroup Global Markets Inc. and BofA Merrill Lynch are acting as joint book-running managers of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 6,000,000 units at the initial public offering price to cover over-allotments, if any.