Federal Street Acquisition Corp.
Cash in trust
—
Not yet disclosed
Trust per share
—
Redemption value
IPO
Jul 2017
$450.8M raised
Combination deadline
—
Not disclosed
Filings on record
94
Latest Feb 16, 2021
Business combination
- Target
- Not disclosed in an indexed filing
- Announced
- Aug 13, 2018
- Closed
- Jan 10, 2019
Overview
Federal Street Acquisition Corp. is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001701821. It completed its initial public offering in Jul 2017, raising $450.8M in gross proceeds. The vehicle is sponsored by Federal Street through FS Sponsor LLC. The mandate targets healthcare. Business combination closed; the company trades under a new ticker.
“We intend to focus our search for a target business in the healthcare industry, although we may seek to complete a business combination with an operating company in any industry or sector.”
Reading the filings
Arithmetic on what Federal Street Acquisition Corp. has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.
Underwriting
Citigroup led the offering. It has been named on 123 SPAC IPOs, book-running 87 of them, and 12.4% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.
SEC filing history
Free tier: filings older than 24 hours- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001076809-21-000079
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0000950142-20-000485
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0000312069-20-000025
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001085146-20-000638
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0000902219-20-000120
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001076809-19-000006
- SC 13G
Beneficial ownership report (passive)
Accession 0000312069-19-000011
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0001453072-19-000032
- SC 13G
Beneficial ownership report (passive)
Accession 0001085146-19-000678
- SC 13G
Beneficial ownership report (passive)
Accession 0000902219-19-000153
- SC 13G/A
Amended beneficial ownership report (passive)
Accession 0000902664-19-000783
- 15-12B
Deregistration of securities
Accession 0001104659-19-001816
- 8-K
Entry into a material definitive agreement; Termination of a material definitive agreement; Completion of an acquisition; Notice of delisting or failure to satisfy a listing rule; Regulation FD disclosure
Items 1.01, 1.02, 2.01, 3.01, 3.03, 4.01, 5.02, 7.01, 9.01 · Accession 0001104659-19-001495
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000917
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000915
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000914
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000912
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000904
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000902
- 4
Statement of changes in beneficial ownership
Accession 0001104659-19-000901
- 3
Initial statement of beneficial ownership
Accession 0001104659-19-000900
- 3
Initial statement of beneficial ownership
Accession 0001104659-19-000897
- SC 13D
Beneficial ownership report (activist)
Accession 0001104659-19-000823
- 25-NSE
Notification of delisting
Accession 0001354457-19-000009
- 25-NSE
Notification of delisting
Accession 0001354457-19-000008
- 25-NSE
Notification of delisting
Accession 0001354457-19-000007
- 8-K
Termination of a material definitive agreement; Submission of matters to a vote of security holders; Regulation FD disclosure
Items 1.02, 5.07, 7.01 · Accession 0001104659-19-000503
- 8-K
Entry into a material definitive agreement; Termination of a material definitive agreement; Regulation FD disclosure
Items 1.01, 1.02, 7.01, 9.01 · Accession 0001047469-18-007746
- 425
Business-combination communication
Accession 0001047469-18-007747
- DEFA14A
Additional proxy soliciting material
Accession 0001047469-18-007743
Federal Street Acquisition Corp.: questions answered
What is Federal Street Acquisition Corp.?
Federal Street Acquisition Corp. is a special purpose acquisition company incorporated in Delaware and registered with the SEC under CIK 0001701821. It completed its initial public offering in Jul 2017, raising $450.8M in gross proceeds. The vehicle is sponsored by Federal Street through FS Sponsor LLC. The mandate targets healthcare. Business combination closed; the company trades under a new ticker.
How much does Federal Street Acquisition Corp. hold in trust?
No trust balance has been disclosed in a filing we have indexed for Federal Street Acquisition Corp.. For a newly priced IPO this is normal: the figure first appears in the quarterly report after closing.
When must Federal Street Acquisition Corp. complete a merger?
No combination deadline appears in the filings we have indexed. The date is stated in the charter and repeated in each quarterly report; where our parser could not establish it with confidence we leave it blank rather than infer one.
What happens if Federal Street Acquisition Corp. does not find a target in time?
The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.
Can I redeem shares in Federal Street Acquisition Corp., and at what price?
Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.
Is the trust value the same as the share price for Federal Street Acquisition Corp.?
No. Trust per share is a disclosed, contractual figure: what a redeeming holder receives. The market price is whatever the shares change hands at, which can sit above the trust when a deal is well received or below it when the market doubts one will close. We do not have a current quote for this vehicle, so no spread is shown.
Who sponsors Federal Street Acquisition Corp., and what is their track record?
FS Sponsor LLC is the sponsor entity, part of the Federal Street franchise. This is the only vehicle we have attributed to that sponsor.
Which banks underwrote the Federal Street Acquisition Corp. IPO?
Citigroup, BofA Securities. Syndicate membership and role are read from the prospectus cover and the underwriting section.
Is Federal Street Acquisition Corp. a good investment?
That is not a question this site answers. Federal Street Acquisition Corp. is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.
Where does this Federal Street Acquisition Corp. data come from?
Filings Federal Street Acquisition Corp. submitted to the SEC under CIK 0001701821: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.
Compiled by the SPACListing research desk
Last reconciled Sep 4, 2026
Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.
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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.
Federal Street: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
Citigroup in SPACs
Mandates, bookrun credit, deal volume and the outcome of the vehicles it priced.
Healthcare SPACs
Every vehicle chasing the same mandate, ranked by cash in trust.
All completed de-spac transactions
Business combination closed; the company trades under a new ticker.
Deadline calendar
Which sponsors are running out of time, and when the extension votes land.
What is a SPAC?
The structure, the economics and where the risks actually sit.
SPAC glossary
Every term in a blank-check filing, defined the way practitioners use it.
How this data is built
Coverage universe, ingestion, normalisation, lifecycle classification and known limits.