FG Merger II Corp. (FGMCU) plans to raise $80 million in an initial public offering on Tuesday, January 28th, IPO Scoop reports. The company will issue 8,000,000 shares at a price of $10.00 per share.
The company has a market cap of $102.4 million.
FG Merger II Corp. provided the following description of their company for its IPO: “We intend to search for target acquisitions in the financial services industry in North America. (Incorporated in Nevada) Larry Swets Jr. is our CEO. Mr. Swets is the founder and managing member of Itasca Financial, an advisory and investment firm. Kyle Cerminara is our chairman. He is the co-founder and CEO of Fundamental Global. (Note: FG Merger II Corp. changed the structure of the right’s portion of its unit to these terms: the right to receive one-tenth (1/10th) of a share of common stock – a larger portion than the original terms calling for the right to receive one-twentieth (1/20th) of a share of common stock – upon the consummation of the initial business combination, according to an S-1/A filing dated Jan. 21, 2025.) (Note: FG Merger II Corp. increased the size of its SPAC IPO to 8.0 million units – up from 7.5 million units initially – and kept the IPO price at $10.00 per unit to raise $80.0 million, according to an S-1/A filing dated Aug. 23, 2024. Each unit consists of one share of common stock and one right to receive one-twentieth (1/20) of a share of common stock upon the consummation of the initial business combination. As of Aug. 23, 2024, FG Merger II Corp. had not selected a proposed stock symbol yet for its SPAC IPO.) (Background: FG Merger II Corp. filed its S-1 on Oct. 24, 2023, and declared terms for its SPAC IPO: 7.5 million units at $10.00 to raise $75.0 million. Each unit consists of one share of stock and a half-warrant.) “.
FG Merger II Corp. was founded in 2023 and has 0 employees. The company is located at 104 S. Walnut Street, Unit 1A Itasca, Illinois 60143 Tel: (847) 773-1665 and can be reached via phone at (847) 773-1665.
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