FG Merger II Corp. Announces Closing of $80,000,000 Initial Public Offering
FG Merger II Corp., a newly formed blank check company, has announced the successful closing of its $80 million initial public offering (IPO). The company offered 8,000,000 units at $10.00 per unit, with each unit comprising one share of common stock and one right. Each right allows holders to receive one-tenth of a share upon completing an initial business combination.
The units are now trading on the Nasdaq Global Market under 'FGMCU', with common stock and rights expected to trade separately under 'FGMC' and 'FGMCR' respectively. The company granted underwriters a 45-day option to purchase up to 1,200,000 additional units to cover over-allotments. ThinkEquity served as the sole book-running manager for the offering.
FG Merger II Corp., una nuova società di investimento senza attività preesistenti, ha annunciato la chiusura con successo della sua offerta pubblica iniziale (IPO) di 80 milioni di dollari. L'azienda ha offerto 8.000.000 di unità a 10,00 dollari ciascuna, con ogni unità composta da un'azione ordinaria e un diritto. Ogni diritto consente ai detentori di ricevere un decimo di un'azione al completamento di una combinazione aziendale iniziale.
Le unità sono ora negoziate sul Mercato Globale Nasdaq con il simbolo 'FGMCU', con le azioni ordinarie e i diritti che si prevede vengano negoziati separatamente con i simboli 'FGMC' e 'FGMCR' rispettivamente. L'azienda ha concesso ai sottoscrittori un'opzione di acquisto di 45 giorni per ulteriori 1.200.000 unità per coprire eventuali sovrallocamenti. ThinkEquity ha svolto il ruolo di unico gestore per l'offerta.
FG Merger II Corp., una nueva empresa de cheques en blanco, ha anunciado el cierre exitoso de su oferta pública inicial (IPO) de 80 millones de dólares. La empresa ofreció 8,000,000 de unidades a 10.00 dólares cada una, con cada unidad compuesta por una acción ordinaria y un derecho. Cada derecho permite a los poseedores recibir un décimo de una acción al completar una combinación empresarial inicial.
Las unidades se están negociando en el Mercado Global Nasdaq bajo el símbolo 'FGMCU', con acciones ordinarias y derechos que se espera se negocien por separado bajo 'FGMC' y 'FGMCR' respectivamente. La empresa otorgó a los suscriptores una opción de compra de 45 días para adquirir hasta 1,200,000 unidades adicionales para cubrir sobreasignaciones. ThinkEquity actuó como el único gestor de libros para la oferta.
FG Merger II Corp.는 새로 설립된 공모 회사로, 8천만 달러 규모의 초기 공개 모집(IPO)의 성공적인 마감을 발표했습니다. 이 회사는 1단위당 10.00달러에 8,000,000개의 유닛을 제공했습니다, 각 유닛은 보통주 1주와 권리 1개로 구성됩니다. 각 권리는 보유자가 초기 사업 결합을 완료할 때 0.1주의 주식을 받을 수 있게 해줍니다.
유닛은 현재 ‘FGMCU’라는 기호로 나스닥 글로벌 시장에서 거래되고 있습니다, 보통주와 권리는 각각 'FGMC'와 'FGMCR'로 별도로 거래될 것으로 예상됩니다. 이 회사는 인수인들에게 초과 할당을 커버하기 위해 1,200,000개의 추가 유닛을 구매할 수 있는 45일 옵션을 부여했습니다. ThinkEquity는 이 공모의 단독 북 러닝 매니저로 활동했습니다.
FG Merger II Corp., une nouvelle société de chèques en blanc, a annoncé la clôture réussie de son introduction en bourse (IPO) de 80 millions de dollars. L'entreprise a proposé 8 000 000 d'unités à 10,00 dollars par unité, chaque unité comprenant une action ordinaire et un droit. Chaque droit permet à ses détenteurs de recevoir un dixième d'une action lors de la réalisation d'une première combinaison d'affaires.
Les unités sont désormais négociées sur le Nasdaq Global Market sous le symbole 'FGMCU', les actions ordinaires et les droits devant être négociés séparément sous 'FGMC' et 'FGMCR' respectivement. L'entreprise a accordé aux souscripteurs une option d'achat de 45 jours pour acquérir jusqu'à 1 200 000 unités supplémentaires afin de couvrir les surallocations. ThinkEquity a servi de manager exclusif pour l'offre.
FG Merger II Corp., ein neu gegründetes Unternehmen ohne Betrieb, hat den erfolgreichen Abschluss seines 80 Millionen US-Dollar Initial Public Offering (IPO) bekannt gegeben. Das Unternehmen bot 8.000.000 Einheiten zu je 10,00 US-Dollar an, wobei jede Einheit aus einer Stammaktie und einem Recht besteht. Jedes Recht ermöglicht es den Inhabern, ein Zehntel einer Aktie nach Abschluss einer anfänglichen Unternehmenszusammenführung zu erhalten.
Die Einheiten werden jetzt an der Nasdaq Global Market unter 'FGMCU' gehandelt, wobei die Stammaktien und Rechte voraussichtlich separat unter 'FGMC' und 'FGMCR' gehandelt werden. Das Unternehmen gewährte den Underwritern eine 45-tägige Option zum Kauf von bis zu 1.200.000 zusätzlichen Einheiten zur Deckung von Überzeichnungsanfragen. ThinkEquity war der alleinige Buchführungsmanager für das Angebot.
- Successfully raised $80 million through IPO
- Listed on Nasdaq Global Market
- Additional potential capital through 1.2M unit over-allotment option
- Potential shareholder dilution through rights conversion
- No specific business combination target identified yet
Insights
This SPAC IPO represents an interesting development in the current market environment. The
The rights structure (1/10th share per right) creates a potential
The selection of ThinkEquity as sole book-runner is strategic, given their experience with smaller-cap SPACs and their strong distribution network among institutional investors. The 45-day overallotment option for 1.2M additional units provides flexibility to accommodate excess demand while maintaining price stability in early trading.
The NASDAQ listing and eventual separation of units into common shares and rights will provide investors with trading flexibility and potential arbitrage opportunities. However, investors should note that rights-based SPACs historically have shown different trading patterns compared to warrant-based structures, particularly in the post-announcement phase of a business combination.
FG Merger II Corp. intends to use the net proceeds from the offering, and the simultaneous private placements of units and warrants, to consummate FG Merger II Corp.'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 related to this offering may be obtained from ThinkEquity, 17 State Street, 41st Floor,
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 II Corp.
FG Merger II 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 II Corp. will not limit its search for a target company to any particular business segment, FG Merger II Corp. intends to focus its search for a target business in the financial services industry in
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 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 II Corp., including those set forth in the Risk Factors section of FG Merger II 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 II Corp. undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Hassan R. Baqar
Chief Financial Officer
FG Merger II Corp.
(847) 791-6817
info@fgmerger.com
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SOURCE FG Merger II Corp.
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