Business
FG Financial Group, Inc. Merchant Banking Platform Company FG Merger Corp. Announces Business Combination Agreement With iCoreConnect
ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (the “Company”), today announced that its merchant banking platform
About this update from Fg Merger Ii Corp.
[{"type":"text","content":" ST. PETERSBURG, Fla.--(BUSINESS WIRE)--\nFG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (the “Company”), today announced that its merchant banking platform partner FG Merger Corp. (FG Merger) (Nasdaq: FGMC) has entered into a business combination agreement with iCoreConnect Inc., a market leading, cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform of applications and services. The business combination would result in iCoreConnect uplisting from the over the counter (“OTC”) market to the Nasdaq.\n\nFG Financial Group is a reinsurance and asset management holding company focused on collateralized and loss capped reinsurance and merchant banking that allocates capital in partnership with Fundamental Global®, a private partnership led by Kyle Cerminara and Joe Moglia, as well as other strategic investors.\n\nIn the aggregate, FG Financial Group’s indirect exposure to FG Merger Corp., a special purpose acquisition corporation, through its subsidiaries, represents potential beneficial ownership of approximately 820,000 shares of FG Merger common stock, approximately 989,000 warrants with an $11.50 strike price and a 5 year expiration, and approximately 85,000 warrants with a $15.00 strike price and a 10 year expiration.\n\nDetails of the transaction are included in the FG Merger Corp. press release available here.\n\nLarry Swets, Jr., FG Financial Group’s CEO and Chairman of FG Merger Corp., commented, “In September, FG Financial Group launched the merchant banking platform to build upon our team’s experience managing, sponsoring and creating innovative structures for growing businesses. This transaction provides iCoreConnect shareholders an opportunity to have their intrinsic value recognized while providing FG Merger shareholders a unique asymmetric opportunity to contribute to the growth capital of the combined company. iCoreConnect has an attractive, scalable business model positioned to take advantage of industry tailwinds, and FG Financial Group looks forward to being a shareholder and sharing in the company’s success.”\n\nFG Financial Group Chairman and Fundamental Global CEO Kyle Cerminara commented, “This transaction reflects the broadening business strategy of our merchant banking platform which we created ...