Cohen SPAC Agrees to Take Business Services Firm Pico Public

Serial blank-check company dealmaker Betsy Cohen has found her seventh target, a technology provider for financial services companies.

FTAC Athena Acquisition Corp. has agreed to merge with New York-based Pico in a deal that will give the combined company an equity value of $1.75 billion, according to a statement Wednesday that confirmed a Bloomberg News report.

Betsy Cohen

The special purpose acquisition company, or SPAC, is also raising $200 million of equity to support the Pico transaction. Investors in that private investment in public equity, or PIPE, include Golden Gate Capital and Wellington Management, the statement shows.

Cohen, the SPAC’s ...