FG Merger Corp. prices $70 million stock offering

ITASCA - FG Merger Corp., a newly organized financial company, announced the pricing of its initial public stock offering at $10 per share for 7 million units, with each unit consisting of one share of common stock and three-quarters of one redeemable warrant. Each warrant entitles the holder to purchase one additional share of common stock at $11.50 per share.

The stock began trading Friday on the Nasdaq market under the ticker symbol "FGMCU." FG Merger Corp. expects the IPO to close on March 1, subject to customary closing conditions.

FG Merger Corp. is a special purpose acquisition company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While FG Merger Corp. will not limit its search for target companies to any particular business segment, FG Merger Corp. intends to focus its search for target businesses in the financial services industry in North America, the company said.