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Forum Merger II Corporation Pricing Their $200 Million SPAC Tonight

IPO Ahead

Forum Merger II Corporation Pricing Their $200 Million SPAC Tonight

Aug 2, 2018 INTEL by Kristi Marvin

Forum Merger II, filed their CERT just before the market close today, indicating they will be pricing their IPO tonight for trading Friday.

This is Jefferies’ first 2018 SPAC as sole bookrunning manager, and a $200 million deal is a nice way to start.  Additionally, EarlyBirdCapital is in the co-manager position.

The $200 million Forum Merger II has a broad search mandate, but they state they intend to focus on companies with an enterprise value between $500 million and $2 billion and are located in the U.S.

Summary of terms located below:

  • Sector Focus: EV between $500mm and $2bn, located in the U.S.
  • $10.00 unit comprised of one share Class A Common Stock, one redeemable Warrant
  • 100% held in trust ($10.00 per share)
  • 18 months to complete an acquisition 
  • Limitation on redemption rights of stockholders:  15%
  • Warrant call for redemption price: $18.00
  • Underwriter fees: 2.0% + 3.5% deferred fee.  Jefferies is sole bookrunner, EarlyBird Capital is co-manager.

 

ByKristi Marvin