Deutsche Bank appointed as escrow agent for Fortress Value Acquisition Corp II
Fortress Value Acquisition Corp II has appointed Deutsche Bank’s Trust & Agency Services (TAS) as escrow agent. Fortress Value Acquisition Corp II is a $300 million Special Purpose Acquisition Company (SPAC) that successfully listed on the New York Stock Exchange (NYSE) in August 2020
The TAS team facilitated the opening of an escrow account under tight timeframes to securely hold and invest the capital raised via the offering until the company proceeds with its acquisition plans. Earlier this year Deutsche Bank acted as escrow agent for Fortress Value Acquisition Corporation, which launched on the NYSE in April. Deutsche Bank Securities Inc. served as one of the underwriters on both offerings.
“We are proud to have supported Fortress this year and look forward to continuing our partnership”, comments Gary Vaughan, Head of Corporate Trust Americas at Deutsche Bank.