FAST Acquisition, Fertitta Entertainment Terminate Merger Agreement

(RTTNews) - FAST Acquisition Corp. (FST), a special purpose acquisition company co-headed by Doug Jacob and Sandy Beall, and Fertitta Entertainment Inc., the parent company of Golden Nugget/Landry's, said that they have agreed to mutually terminate their merger agreement.

The merger agreement was originally reached on February 1, 2021 and amended on June 30, 2021.

The companies have simultaneously terminated their Merger Agreement after a settlement was reached regarding the parties' disagreement over the termination date in the Merger Agreement.

The settlement provides FAST and its shareholders up to $33 million through a combination of upfront and deferred payments, part of which is contingent on whether FAST ultimately effectuates a business combination transaction.

FAST said it intends to continue to seek a business combination with another operating company.