Business
iCoreConnect, a Cloud-Based SaaS Company Targeting the Healthcare Industry, Enters into Business Combination Agreement with FG Merger Corp.
SaaS company that brings workflow efficiencies to the dental and medical industries, offers investors high-growth trajectory, a scalable suite of
About this update from Fg Merger Ii Corp.
[{"type":"text","content":"\nSaaS company that brings workflow efficiencies to the dental and medical industries, offers investors high-growth trajectory, a scalable suite of subscription-based software solutions, and an established runway for future growth through exclusive state association endorsements\n\n\nGrowing Software-as-a-Service (SaaS) and Managed Software-as-a-Service (MSaaS) recurring revenue model backed by a highly diversified base of healthcare providers as well as blue chip and enterprise level clientele\n\n\nTransaction values iCoreConnect at a pro forma enterprise value of $98.0 million\n\n\nFG Merger Corp. shareholders who choose not to exercise their redemption rights will have 100% of their equity converted into preferred stock of the combined company\n\n\nPreferred stock of the combined company will carry a 12% coupon payable in (a) cash or paid-in-kind for the first 24 months after the close of the transaction and (b) cash thereafter\n\n\nInvestor presentation to be webcast on January 6th at 8:30 a.m. ET\n\n\n OCOEE, Fla.--(BUSINESS WIRE)--\niCoreConnect Inc., a SaaS company with an enterprise and healthcare workflow platform, and FG Merger Corp. (“FGMC”) (Nasdaq: FGMC), a special purpose acquisition corporation, today announced they have entered into a business combination agreement for a business combination that would result in iCoreConnect uplisting from the over the counter (“OTC”) market to the Nasdaq, and expecting to trade under the ticker “ICCT”.\n\niCoreConnect CEO Robert McDermott stated, “iCoreConnect is at the forefront of bringing workflow efficiencies to healthcare providers. Our solutions of 15 enterprise SaaS offerings have experienced significant subscription growth over the past several years, driven by our excellent sales team and the relationships we have cultivated with state associations and blue-chip names in the healthcare industry. We see continued demand for our products from large healthcare providers, hospitals, dental support organizations, and large insurance companies. We are laser focused on meeting this demand.”\n\nFGMC CEO Wes Schrader stated, “The FG Merger team is excited to announce this transaction with iCoreConnect. We see significant value in bringing technology workflow solutions to the dental and medical industry and we are particularly impressed with how Robert and the iCoreConnect team h...