Akin Gump Advises Underwriters in Federal Street Acquisition Corp. IPO

(New York) – Federal Street Acquisition Corp., a newly organized blank check company sponsored by Thomas H. Lee Partners, has announced the closing of its initial public offering of 46 million units, which includes 6 million units issued pursuant to the exercise by the underwriters of their over-allotment option. The offering was priced at $10 per unit, resulting in gross proceeds of $460 million before deducting underwriting discounts and commissions and other offering expenses payable by the company.

Akin Gump advised the underwriters, Citigroup Global Markets Inc. and BofA Merrill Lynch, in the matter. The team was led by corporate partner Alice Hsu and included corporate associate Alena Geffner-Mihlsten and tax senior counsel Louis Zivot.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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