Business
FG Financial Group Announces That FG New America Acquisition Corp. Has Completed Its Business Combination With Opportunity Financial (“OppFi”)
ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (the “Company”), a reinsurance and investment management holding
About this update from Fg Nexus Inc.
[{"type":"text","content":" ST. PETERSBURG, Fla.--(BUSINESS WIRE)--\nFG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (the “Company”), a reinsurance and investment management holding company focused on opportunistic collateralized and loss capped reinsurance, while allocating capital to SPAC and SPAC sponsor-related businesses, today announced that FG New America Acquisition Corp. (FGNA), has completed their previously announced business combination with OppFi. The business combination was approved by FGNA’s stockholders at its special meeting held on July 16, 2021, and closed on July 20, 2021.\n\nFGNA now operates as OppFi, Inc. OppFi’s Class A common stock and warrants began trading on the NYSE under the ticker symbols “OPFI” and “OPFI WS,” respectively, on Wednesday, July 21, 2021.\n\nFG Financial Group owns 861,690 shares of Class A common shares of OppFi and 358,419 Class A warrants.\n\nLarry Swets, the Company’s Chief Executive Officer, commented, “We are excited to announce the combination of FGNA with OppFi. FGNA was the first SPAC that we partnered with, and FG Financial is pleased to be shareholders in their business going forward, given OppFi’s impressive growth, profitability and ongoing opportunities for expansion, as they continue to build out their digital and data-driven platform of accessible financial products. We believe that FG Financial is well positioned to build on this initial success and look forward to new opportunities to allocate capital to SPAC and SPAC sponsor-related businesses for our shareholders.”\n\nOppFi is a leading financial technology platform that powers banks to offer accessible products and a top-rated experience to everyday consumers. Through its unwavering commitment to customer service, OppFi helps consumers who are turned away by traditional providers build a better financial path. To date, OppFi has facilitated the issuance of more than 1.5 million loans. The company has been an Inc. 5000 company for five straight years, a Deloitte's Technology Fast 500™, and the seventh fastest-growing company in Chicagoland, in 2021, as measured by Crain's Chicago Business, based on five-year growth rate. The company was also listed on the Forbes America 2021 list of America's Best Startup Employers and the Built In's 2021 Best Places to Work in Chicago. OppFi maintains an A+ rating from the Better Business Bureau (BBB) and ma...