Forum Merger IV Corporation Announces Pricing of $300,000,000 Initial Public Offering

Rhea-AI Summary

Forum Merger IV Corporation has priced its initial public offering of 30,000,000 units at $10.00 each, set to trade on Nasdaq under the symbol ‘FMIVU’ from March 18, 2021. Each unit includes one share of Class A common stock and one-fourth of a redeemable warrant, with the whole warrant exercisable at $11.50 per share. The offering is expected to close on March 22, 2021. The Company aims to enter into business combinations with firms valued between $500 million and $5 billion, primarily in North America or Western Europe.

Positive

• Successful pricing of IPO at $10.00 per unit, indicating strong initial demand.
• Plans for strategic acquisitions focusing on companies with significant enterprise value, potentially driving shareholder value.

Negative

• Reliance on future business combinations creates uncertainty in achieving growth and profitability.
• Forward-looking statements highlight potential risks, including the uncertain completion of the offering and business combinations.

Delray Beach, FL, March 17, 2021 (GLOBE NEWSWIRE) -- Forum Merger IV Corporation (the “Company”) announced today that it priced its initial public offering of 30,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “FMIVU” beginning March 18, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fourth of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “FMIV” and “FMIVW,” respectively. The offering is expected to close on March 22, 2021.

The Company is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on companies with an aggregate enterprise value of approximately $500 million to $5 billion or more that are based in North America or Western Europe. The Company is led by Co-Chief Executive Officers Marshall Kiev and David Boris.

Jefferies LLC is acting as the sole book running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any. 

The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on March 17, 2021.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or as to the consummation of any business combination or the terms thereof. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact
David Boris
(212) 739-7860
david@forummerger.com
www.forummerger.com

FAQ

What is the price of Forum Merger IV's initial public offering?

The initial public offering is priced at $10.00 per unit.

When will Forum Merger IV start trading on Nasdaq?

Trading is set to begin on March 18, 2021, under the ticker symbol ‘FMIVU’.

What does each unit in the IPO consist of?

Each unit consists of one share of Class A common stock and one-fourth of a redeemable warrant.

What is the expected closing date for the offering?

The offering is expected to close on March 22, 2021.

What is the focus of Forum Merger IV regarding business combinations?

Forum Merger IV intends to focus on companies with an aggregate enterprise value of approximately $500 million to $5 billion.