Why SPAC Fortress Value Acquisition II's Stock Is Down Today

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.