SPAC FG Imperii Acquisition prices $200 million IPO, targeting financial services
IPO Overview
FG Imperii Acquisition, a blank check company targeting the financial services sector, raised $200 million by offering 20 million units at $10.00. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.
The SPAC is led by CEO Larry Swets Jr., the founder and Managing Member of advisory and investment firm Itasca Financial, and Chairman Scott Wollney, the CEO of Atlas Financial. The SPAC plans to focus on businesses in the financial services that have strong management teams, differentiated products or services, potential or historical growth, and an identified pathway to long-term profitability.
Management has been involved with several previous SPACs, most recently FG Merger II （FGMC; +1% from $10 offer price）， which has a pending merger agreement with modular construction firm Boxabl.
FG Imperii Acquisition plans to list on the Nasdaq under the symbol FGIIU. ThinkEquity acted as sole bookrunner on the deal.
About the Company
We are a newly organized blank check company formed as a Cayman Islands exempted company with no material operations of our own and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We intend to prioritize combinations where we see significant opportunity for attractive risk adjusted investor returns driven by the dynamics of a public listing. Although we will not limit our search to any particular geography or industry, we will concentrate our efforts on identifying businesses in the financial services industry in North America. Since our team has experience and contacts in many different industries within and outside financial services, if we find a quality combination in an industry outside of financial services, we may choose to pursue that combination. We believe we can capitalize on the network and ability of our management team to identify, acquire, and manage a business. We intend to find a combination that can benefit from our experience, support infrastructure, and differentiated global network. Potential targets exhibit a broad range of business models and financial characteristics. From innovative and/or disruptive, high growth companies, to mature businesses with recurring revenues, solid profitability, and strong cash flows.