5 Best SPACs to Buy According to Herb Wagner’s FinePoint Capital

3. Fortress Capital Acquisition Corp. (NYSE: FCAX)

Wagner’s Stake Value: $18,569,000
Percentage of Herb Wagner’s 13F Portfolio: 3.48%

Fortress Capital Acquisition Corp. (NYSE: FCAX) is a blank check corporation formed to accomplish a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combinations with one or more firms. It was founded in 2020 and is placed third on the list of 10 best SPACs to buy according to Herb Wagner’s FinePoint Capital. Fortress Capital Acquisition Corp. (NYSE: FCAX) presently has a market capitalization of $485 million.

Fortress Capital Acquisition Corp. (NYSE: FCAX) raised $350 million from IPO-related proceeds in January 2021. The Chief Executive Officer and Chairman of the firm is Michael Nierenberg. On August 9, Fortress Capital Acquisition Corp. (NYSE: FCAX) declared earnings for the second quarter of 2021. It posted earnings per share of $0.10, and earnings per share of $0.27 for the first six months of 2021.

The hedge fund chaired by Herb Wagner holds 1.89 million shares in Fortress Capital Acquisition Corp. (NYSE: FCAX) worth over $18.57 million. Empyrean Capital Partners is the biggest stakeholder in Fortress Capital Acquisition Corp. (NYSE: FCAX), with 3.11 million shares worth $31.16 million.