Why SPAC Fortress Value Acquisition II's Stock Is Down Today
Shares of special purpose acquisition company (SPAC) Fortress Value Acquisition II (NYSE: FAII) were trading sharply lower on Monday, after the SPAC announced a deal to merge with ATI Physical Therapy. Fortress Value is a SPAC sponsored by Fortress Investment Group, a New York-based private equity and hedge fund manager. ATI Physical Therapy operates over 800 clinics in the United States.