FAST Acquisition Corp., a special purpose acquisition company co-represented by Doug Jacob and Sandy Beall, and Fertita Entertainment, Inc., the parent company of Golden Nugget/Landries, a leader in the gaming, restaurant, hospitality, and entertainment industries, announced today that they mutually agreed to terminate the merger agreement, which was originally signed on Feb. 1, 2021, and amended on June 30, 2021.

The parties terminated the merger agreement at the same time as an agreement was reached on the parties' disagreement on the date of termination of the merger agreement.

The settlement will provide FAST and its shareholders with up to $33 million through a combination of prepaid and deferred payments, some of which will depend on whether FAST ultimately makes a business combination deal. The settlement will be used to make payments to SPACs that will be used to cover expenses related to the terminated transaction and to supplement SPAC's working capital accounts. FAST plans to continue to seek business combinations with other operating companies.

Doug Jacob, Founder of FAST stated: "FEI is an incredible hospitality empire run by the one of the world's best operators that we have had a first-hand view into for many years now. We wish Tilman and his team the best of luck as they remain a private company. Through this settlement we ensured that we are sufficiently capitalized to seek a new target and that we could continue our efforts to maximize value for our shareholders."

According to Tilman Fertitta: "I have a lot of respect for the FAST team and will support them however I can as they continue to search for a merger target. At the end of the day we ultimately determined that the right decision for my company was to remain private at this time, and I look forward to continuing to grow our business both organically and in-organically." 파워볼게임