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DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
6 Months Ended
Jun. 30, 2018
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS  
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

 

1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

 

Federal Street Acquisition Corp. (the “Company”), is a blank check company incorporated in Delaware on March 21, 2017. The Company was formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business transaction, one or more operating businesses that the Company has not yet identified (a “Business Combination”). Although the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination, the Company intends to focus on healthcare industry.

 

All activity through June 30, 2018 relates to the Company’s formation, the consummation of its initial public offering of 46,000,000 units (the “Initial Public Offering”), the sale of 14,950,000 warrants (the “Private Placement Warrants”) in a private placement to the Company’s sponsor FS Sponsor LLC, an affiliate of Thomas H. Lee Partners (the “Sponsor”) and the identification and evaluation of prospective candidates for a Business Combination.