other material
confidence high
sentiment neutral
materiality 0.50
FG Merger II Corp. closes IPO of 8M units at $10, raises $80M; $80.8M deposited in trust
FG Merger II Corp.
- SPAC sold 8,000,000 units at $10.00 each, generating $80,000,000 in gross proceeds.
- Private placement of 248,300 private units at $10 each and 1,000,000 warrants at $0.10 each raised $2,583,000.
- Net proceeds of $80,800,000 placed in trust account; SPAC has 24 months to complete an initial business combination.
- Sponsor FG Merger Investors II LLC and director Ramnarain Joseph Jaigobind participated in private placements.
- Units trade on Nasdaq under FGMCU; common stock and rights trade under FGMC and FGMCR.