FG New America Acquisition Corp. announced the pricing of its $225 million IPO this evening and the units are expected to begin trading on the NYSE under the symbol “FGNA.U” tomorrow, Wednesday, September 30.
This new company aims to combine with a target within the insurance and financial services technology sectors or one in the consumer sphere. FG New America is led by Chairman Joseph H. Moglia, CEO Larry G. Swets, Jr., D. Kyle Cerminara and CFO Hassan R. Baqar.
Total SPAC deal count for 2020 year-to-date is now 115 with $43.6 billion in gross proceeds raised. This offering is expected to close on Friday, October 2.
Piper Sandler & Co. and ThinkEquity, a division of Fordham Financial Management, Inc., are acting as joint book-running managers of the offering. White & Case LLP is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. Plante & Moran, PLLC, serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...