FG ACQUISITION CORP. ANNOUNCES EXTENSION OF WARRANT PUT OPTION DEADLINE
TORONTO, June 23, 2023 /CNW/ - FG ACQUISITION CORP. (TSX: FGAA.U) (TSX: FGAA.WT.U) (the "Corporation") announced today that it has extended the June 26, 2023 deadline by which holders of the share purchase warrants of the Corporation acquired in connection with the Corporation's initial public offering (the "IPO Warrants") who wish to have their IPO Warrants purchased in connection with the Corporation's proposed business combination transaction with Think Financial Group Holdings Limited (the "Qualifying Acquisition") must deposit their IPO Warrants for purchase by the sponsors of the Corporation, FGAC Investors LLC and CG Investments VII Inc. The Corporation will announce the new deadline by way of news release once determined.
FG Acquisition Corp. is a special purpose acquisition company incorporated under the laws of British Columbia for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving the Corporation. Kyle Cerminara serves as Chairman, Larry Swets, Jr. serves as Director and Chief Executive Officer, and Hassan R. Baqar serves as Director and Chief Financial Officer of the Corporation. In addition, Robert I. Kauffman, a former co-founder and Principal of Fortress Investment Group, serves as a Senior Advisor to the Corporation. The Corporation received US$115 million of proceeds from its initial public offering which was completed on April 5, 2022 and the closing of the overallotment option granted in connection with such initial public offering which was completed on April 20, 2022. The gross proceeds of the offering were placed in an escrow account with TSX Trust Company immediately thereafter and will be released upon consummation of the Qualifying Acquisition in accordance with the terms and conditions of the escrow agreement.
This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events, including the closing of the Qualifying Acquisition, the deadline for deposit of the IPO Warrants and the purchase thereof by the Sponsors. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. The Corporation does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE FG Acquisition Corp.
Released June 23, 2023