Forum Merger II Corporation Announces Closing of $200,000,000 Initial Public Offering
August 07 2018 - 4:00PM
Forum Merger II Corporation (Nasdaq: FMCIU) (the "Company")
announced today that it closed its initial public offering of
20,000,000 units. The offering was priced at $10.00 per unit,
resulting in gross proceeds of $200,000,000.
The Company's units began trading on the Nasdaq Capital Market
under the ticker symbol “FMCIU” on August 3, 2018. Each unit
consists of one share of the Company's Class A common stock and one
warrant. Each warrant entitles the holder thereof to purchase one
share of the Company's Class A common stock at $11.50 per share.
Once the securities comprising the units begin separate trading,
the common stock and warrants are expected to be listed on the
Nasdaq Capital Market under the ticker symbols “FMCI” and “FMCIW”,
respectively.
The Company is a blank check company formed for the purpose of
entering into a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. While the Company may pursue an initial
business combination target in any business or industry, it intends
to focus its search on companies with an aggregate enterprise value
of approximately $500 million to $2 billion that are based in the
United States. The Company is led by Co-Chief Executive Officers
Marshall Kiev and David Boris.
Jefferies LLC acted as the sole book running manager for the
offering. EarlyBirdCapital, Inc. acted as co-manager. The Company
has granted the underwriters a 45-day option to purchase up to an
additional 3,000,000 units at the initial public offering price to
cover over-allotments, if any.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of units,
$200,000,000 (or $10.00 per unit sold in the public offering) was
placed in trust. An audited balance sheet of the Company as of
August 7, 2018 reflecting receipt of the proceeds upon consummation
of the initial public offering and the private placement will be
included as an exhibit to a Current Report on Form 8-K to be filed
by the Company with the Securities and Exchange
Commission. The offering is being made only by
means of a prospectus. Copies of the prospectus may be obtained,
when available, from Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY
10022, or by telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission on August 2, 2018.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
anticipated use of the net proceeds. No assurance can be given that
the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and prospectus for the offering filed with the Securities
and Exchange Commission (“SEC”). Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Contact
David Boris
(212) 739-7860
david@forummerger.com
www.forummerger.com
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