NEW YORK, December 20, 2021 - Pico, a leading provider of mission critical technology, data and analytic services for the financial markets community, today announced the appointment of Donald Shassian to its Board of Managers and Chair of the Audit Committee, effective December 10, 2021. The appointment strengthens Pico’s Board and financial reporting expertise as it prepares to become a public company.
Mr. Shassian is a seasoned finance executive specializing in the telecom and media industries. Most recently, he served as Executive Vice President and Chief Financial Officer of OUTFRONT Media (NYSE: OUT), one of the largest out-of-home media companies in North America. He has also held the CFO role at three telecom firms: Frontier Communications, RSL Communications, and Southern New England Telecommunications Corporation. Prior to his CFO roles, he was a partner at Arthur Andersen.
Mr. Shassian is currently a board member at Seaborn Networks and Blythedale Children’s Hospital. Previously, he served on the boards of UIL Holdings Company (NYSE: UIL) and Lightower Holdings – a Berkshire Partners portfolio company – and was Chair of the Audit Committee for both companies. He holds a BS in Business Administration, majoring in Accounting from Bucknell University.
“We are excited to welcome Don to our Board of Managers,” said Jarrod Yuster, Chairman, Founder & Co-CEO at Pico. “Don will be a tremendous asset to our Board as we transition to life as a public company.”
“As a longtime finance executive, board member within the telecom industry, and as Chair of our Audit Committee, Don’s counsel and unmatched integrity will ensure that we operate with fiscal discipline and transparency and provide reliable reporting for our shareholders. We are privileged to have someone of Don’s pedigree overseeing this very important function.”
“It’s an honor to join Pico’s Board of Managers,” said Shassian, “I look forward to being a part of the transformation in financial markets technology as Pico continues its incremental growth in a rapidly evolving market.”
On August 4, 2021, Pico announced that it had entered into a definitive agreement for a business combination with FTAC Athena Acquisition Corp. (Nasdaq: FTAA), a special purpose acquisition company. Upon closing of the transaction, the combined company will operate as Pico. The transaction reflects a pro forma enterprise value for the combined company of approximately $1.4 billion. The business combination, which has been unanimously approved by the boards of both Pico and FTAC Athena, is targeted to close in early 2022, subject to stockholder approvals and other customary closing conditions.
Pico is a leading provider of technology services for the financial markets community. Pico provides a best-in-class portfolio of innovative, transparent, low-latency markets solutions coupled with an agile and expert service delivery model. Instant access to financial markets is provided via PicoNet™, a globally comprehensive network platform instrumented natively with Corvil analytics and telemetry. Clients choose Pico when they want the freedom to move fast and create an operational edge in the fast-paced world of financial markets.
Additional Information and Where to Find It
In connection with the transaction, FTAC Athena Acquisition Corp. intends to file the Proxy Statement with the SEC, which will be distributed to holders of FTAC Athena Acquisition Corp.’s ordinary shares in connection with FTAC Athena Acquisition Corp.’s solicitation of proxies for the vote by FTAC Athena Acquisition Corp.’s shareholders with respect to the transaction and other matters as described in the Proxy Statement. After the Proxy Statement has been filed and cleared by the SEC, FTAC Athena Acquisition Corp. will mail a definitive proxy statement, when available, to its shareholders. Investors and security holders and other interested parties are urged to read the proxy statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about FTAC Athena Acquisition Corp., Pico and the transaction. Investors and security holders may obtain free copies of the preliminary proxy statement and definitive proxy statement (when available) and other documents filed with the SEC by FTAC Athena Acquisition Corp. through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: FTAC Athena Acquisition Corp., 2929 Arch Street, Suite 1703, Philadelphia, PA 19104.
Participants in Solicitation
FTAC Athena Acquisition Corp., Pico and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the transaction. Information about the directors and executive officers of FTAC Athena Acquisition Corp. is set forth in its final prospectus filed on February 24, 2021 (the “FTAC Athena Acquisition Corp. Prospectus”). Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Proxy Statement and other relevant materials to be filed with the SEC regarding the transaction when they become available. Stockholders, potential investors and other interested persons should read the Proxy Statement carefully when it becomes available before making any voting or investment decisions. When available, these documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, an offer to sell or the solicitation of an offer to buy any securities.
The information in this press release includes “forward-looking statements” within the meaning of the federal securities laws with respect to the transaction. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, net proceeds from the transaction, potential benefits of the transaction and the potential success of the Company’s market and growth strategies, and expectations related to the terms and timing of the transaction. These statements are based on various assumptions and on the current expectations of FTAC Athena Acquisition Corp.’s and the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of FTAC Athena Acquisition Corp. and the Company. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of FTAC Athena Acquisition Corp.'s securities; (ii) the risk that the transaction may not be completed by FTAC Athena Acquisition Corp.'s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by FTAC Athena Acquisition Corp.; (iii) the failure to satisfy the conditions to the consummation of the transaction, including the approval of the transaction by the shareholders of FTAC Athena Acquisition Corp., the satisfaction of the minimum gross proceeds amount following any redemptions by FTAC Athena Acquisition Corp.'s public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the inability to complete the PIPE investment in connection with the transaction; (v) the failure to realize the anticipated benefits of the transaction; (vi) the effect of the announcement or pendency of the transaction on Pico’s business relationships, performance, and business generally; (vii) risks that the transaction disrupts current plans of Pico and potential difficulties in Pico employee retention as a result of the transaction; (viii) the outcome of any legal proceedings that may be instituted against FTAC Athena Acquisition Corp. or Pico related to the business combination agreement or the transaction; (ix) the ability to maintain the listing of FTAC Athena Acquisition Corp.’s securities on the Nasdaq Capital Market; (x) the ability to address the market opportunity for Pico’s products and services; (xi) the risk that the transaction may not generate the expected net proceeds for the combined company; (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities; (xiii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (iv) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive financial markets community; and those factors discussed in the FTAC Athena Acquisition Corp. Prospectus under the heading “Risk Factors,” and other documents of FTAC Athena Acquisition Corp. filed, or to be filed, with the SEC. If any of these risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither FTAC Athena Acquisition Corp. nor the Company presently know or that FTAC Athena Acquisition Corp. and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect FTAC Athena Acquisition Corp.’s and the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. FTAC Athena Acquisition Corp. and the Company anticipate that subsequent events and developments will cause FTAC Athena Acquisition Corp.’s and the Company’s assessments to change. However, while FTAC Athena Acquisition Corp. and the Company may elect to update these forward-looking statements at some point in the future, FTAC Athena Acquisition Corp. and the Company specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing FTAC Athena Acquisition Corp.’s and the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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