Fortress Investment Group’s SPAC Fortress Value Acquisition V files for a $250 million IPO
IPO Overview
Fortress Value Acquisition V, the sixth blank check company by executives at Fortress Investment Group, filed on Tuesday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raised $250 million by offering 25 million shares at $10. Unlike most SPACs, the company is offering shares, instead of units with warrants and/or rights attached.
Fortress Value Acquisition V is led by Chairman Andrew McKnight, who serves as a co-CEO and Managing Director at Fortress Investment Group. He is joined by co-CEOs Andrew Stroud and Micah Kaplan, who both serve as Managing Directors at Fortress Investment Group, as well as CFO John Konawalik, the CAO of Fortress Investment Group.
Management’s previous SPACs include Fortress Value Acquisition IV （formerly NYSE: FVIV.U） and Fortress Value Acquisition III （formerly NYSE: FVT.U）， which both liquidated in 2022, as well as Fortress Value Acquisition II, which merged with ATI Physical Therapy （formerly NYSE: ATIP） in 2021, and Fortress Value Acquisition I, which merged with MP Materials （NYSE: MP; +523% from $10 offer price） in 2020.
The New York, NY-based company was founded in 2025 and plans to list on the Nasdaq under the symbol FVAV. Fortress Value Acquisition V filed confidentially on December 23, 2025. Deutsche Bank is the sole bookrunner on the deal.
About the Company
We are a newly incorporated blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. Although we may pursue an acquisition in any geography or industry, we intend to capitalize on the ability of our management team and the broader Fortress platform to identify, acquire and operate a business that may provide opportunities for attractive risk-adjusted returns. We intend to identify and acquire a business that could benefit from a hands-on partner with extensive investment and operational expertise and that presents potential for an attractive risk-adjusted return profile with our guidance. Even fundamentally sound companies can often under-perform their potential due to underinvestment, inefficient capital allocation, over-levered capital structures, excessive cost structures, incomplete management teams and/or inappropriate business strategies.