Feb 22 (Reuters) - Fortress Value Acquisition Corp II
:
* ADVENT INTERNATIONAL-BACKED ATI PHYSICAL THERAPY SET TO GO PUBLIC THROUGH BUSINESS COMBINATION WITH FORTRESS VALUE ACQUISITION CORP. II
* FORTRESS VALUE ACQUISITION CORP II - DEAL VALUES ATI AT AN ENTERPRISE VALUE OF $2.5 BILLION AND IS EXPECTED TO PROVIDE UP TO $645 MILLION IN CASH PROCEEDS
* FORTRESS VALUE ACQUISITION CORP II - ADVENT INTERNATIONAL AND MANAGEMENT ARE ROLLING 100 PERCENT OF EXISTING EQUITY
* FORTRESS VALUE ACQUISITION CORP II - UPON CLOSING OF TRANSACTION, COMBINED COMPANY WILL OPERATE AS "ATI PHYSICAL THERAPY, INC."
* FORTRESS VALUE ACQUISITION CORP II - EXISTING MANAGEMENT TEAM, LED BY CEO LABEED DIAB, CFO JOE JORDAN AND COO RAY WAHL, WILL CONTINUE TO LEAD BUSINESS
* FORTRESS VALUE ACQUISITION CORP II - ADVENT WILL REMAIN ATI'S LARGEST STOCKHOLDER
* FORTRESS VALUE ACQUISITION CORP II - CASH PROCEEDS WILL BE USED TO PAY DOWN ATI'S EXISTING DEBT, REMAINING PREFERRED EQUITY
* FORTRESS VALUE ACQUISITION CORP II - INVESTMENT FUNDS AFFILIATED WITH FORTRESS INVESTMENT GROUP LLC ARE INVESTING $75 MILLION INTO PIPE
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