NEW YORK - FG Merger III Corp, a special-purpose acquisition company, has announced its plans to go public with a $150 million initial public offering (IPO), according to documents filed with the U.S. Securities and Exchange Commission on Wednesday.
The company is led by CEO Larry Swets Jr. from Itasca Financial and Chairman Kyle Cerminara of Fundamental Global, who are known for their strategic focus on financially robust North American companies.
The proposed IPO consists of 15 million units priced at $10 each. Each unit will include one share of common stock and a half-warrant, which will be exercisable at $11.50 per share. This pricing strategy aims to set the market value of FG Merger III at approximately $191 million.
FG Merger III's move follows other ventures by the same leadership team, including FG Merger II's filing in October for a $75 million IPO and the merger with iCoreConnect. The company is preparing to make its debut on the Nasdaq stock market, although the ticker symbol has yet to be finalized.
ThinkEquity is acting as the exclusive bookrunner for the IPO, indicating a focused approach to navigating the public offering process.
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