FG Merger Corp. Announces Closing of Fully-Exercised Over-Allotment Option in Connection with Its Initial Public Offering
03 Marzo 2022 - 3:01PM
Business Wire
FG Merger Corp. (the “Company”), a newly organized blank check
company formed as a Delaware corporation, announced today that the
underwriters in its initial public offering (“IPO”), pursuant to
the terms of the underwriting agreement, fully exercised their
over-allotment option and, on March 3, 2022, purchased 1,050,000
units, generating additional gross proceeds of $10,500,000. 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 total aggregate issuance by the Company of 8,050,000 units
in the IPO, including the over-allotment option exercise, at a
price of $10.00 per unit resulted in total gross proceeds of
$80,500,000.
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.
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/20220303005983/en/
M. Wesley Schrader Chief Executive Officer FG Merger Corp.
720-770-0620 info@fgmerger.com
FG Merger (NASDAQ:FGMCU)
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