Exhibit 99.1
ATI Physical Therapy and Fortress Value Acquisition Corp. II Announce Approval
of All Proposals at Special Meeting of Stockholders
New York and Bolingbrook, IL June 16, 2021 – ATI Physical Therapy, Inc. (“ATI” or the “Company”), a portfolio company of Advent International and one of the nation’s largest providers of outpatient physical therapy services, and Fortress Value Acquisition Corp. II (“FVAC II”) (NYSE: FAII), a special purpose acquisition company, announced today that at the special meeting of stockholders of FVAC II held on June 15, 2021 at 8:00 a.m., Eastern Time, virtually (the “Special Meeting”), all proposals presented at the Special Meeting, including the business combination proposal, were approved. In connection with the previously announced business combination, holders of 8,987,746 shares of Company Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), reflecting approximately 26% of outstanding Class A Common Stock, exercised their right to redeem their shares for cash at a redemption price of $10.00 per share, for an aggregate redemption amount of approximately $89.9 million.
ATI and FVAC II anticipate that the merger will close on or about June 16, 2021, subject to the satisfaction of customary closing conditions, and for the ATI Class A common stock and warrants to begin publicly trading on NYSE under the new symbols “ATIP” and “ATIP WS”, respectively, on or about June 17, 2021.
About ATI Physical Therapy
At ATI Physical Therapy, we are passionate about potential. Every day, we restore it in our patients and activate it in our team members in close to 900 locations across the U.S. With proven results from more than 2.5 million unique patient cases tracked in its EMR database, ATI is leading the industry by setting best practice standards that deliver predictable outcomes for our patients with MSK issues. ATI’s offerings span the healthcare spectrum for MSK-related issues. From preventative services in the workplace and athletic training support to home health, outpatient clinical services and online physical therapy via its CONNECT™ platform, a complete list of our service offerings can be found at ATIpt.com.
About Fortress Value Acquisition Corp. II
FVAC II is a $345 million Special Purpose Acquisition Company sponsored by Fortress Credit and traded on the New York Stock Exchange under the ticker FAII. Fortress Credit is a business of Fortress Investment Group LLC (“Fortress”).
