FG Merger Corp. Announces Closing of $70 Million Initial Public Offering
01 Mars 2022 - 10:01PM
Business Wire
FG Merger Corp. (the “Company”), a newly organized blank check
company formed as a Delaware corporation, today announced the
closing of its initial public offering (“IPO”) of 7,000,000 units
at an offering price of $10.00 per unit. Each unit consists of one
share of common stock and three-quarters of one redeemable warrant.
Each whole warrant entitles the holder thereof to purchase one
share of common stock at $11.50 per share. The units are listed on
the Nasdaq Global Market (“NASDAQ”) and trade under the ticker
symbol “FGMCU”. Once the securities comprising the units begin
separate trading, the common stock and the warrants are expected to
be traded on NASDAQ under the symbols “FGMC” and “FGMCW,”
respectively.
The Company intends to use the net proceeds from the offering,
and the simultaneous private placements of units and warrants, to
consummate the Company’s initial business combination.
ThinkEquity acted as sole book-running manager for the offering.
FG Merger Corp. has granted the underwriters a 45-day option to
purchase up to 1,050,000 additional units at the IPO price to cover
over-allotments, if any.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained from ThinkEquity, 17 State Street,
22nd Floor, New York, New York 10004, by telephone at (877)
436-3673 and by email at prospectus@think-equity.com, or by
visiting EDGAR on the SEC’s website at www.sec.gov.
A registration statement relating to the securities has been
filed with, and declared effective by, the Securities and Exchange
Commission (“SEC”). This press release shall not constitute an
offer to sell or a solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About FG Merger Corp.
FG Merger Corp. is a blank check company, also commonly referred
to as a special purpose acquisition company, or SPAC, formed for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses or entities. While FG
Merger Corp. will not limit its search for a target company to any
particular business segment, FG Merger Corp. intends to focus its
search for a target business in the financial services industry in
North America.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the IPO,
the anticipated use of the net proceeds thereof and the Company’s
search for an initial business combination. No assurance can be
given that the net proceeds of the offering will be used as
indicated. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of FG Merger
Corp., including those set forth in the Risk Factors section of FG
Merger Corp.’s registration statement and prospectus for the IPO
filed with the SEC. Copies are available on the SEC's website,
www.sec.gov. FG Merger Corp. undertakes no obligation to update
these statements for revisions or changes after the date of this
release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220301005932/en/
M. Wesley Schrader Chief Executive Officer FG Merger Corp.
720-770-0620 info@fgmerger.com
FG Merger (NASDAQ:FGMCU)
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