The IPO Buzz: FG Merger II Corp. Raises $80 Million – It’s Among 3 SPAC IPOs This Week
FG Merger II Corp. (FGMCU) priced its small SPAC IPO – 8.0 million units at $10.00 each – and raised $80.0 million on Tuesday night, Jan. 28, 2025.This financial services-focused SPAC IPO is among three SPAC IPOs on tap this week. If all three SPAC IPO deals get done, they will raise $430 million in combined volume.
This SPAC IPO – FG Merger II Corp. – is expected to start trading on Wednesday, Jan. 29, on the NASDAQ.
Larry Swets Jr., the CEO of FG Merger II Corp., is the founder and managing member of Itasca Financial, an advisory and investment firm based in Itasca, Illinois.
ThinkEquity was the sole book-runner of FG Merger II Corp.’s SPAC IPO.
Drugs Made in America Acquisition Corp. (DMAAU) was the first SPAC IPO priced this week. On Monday night, Jan. 27, Drugs Made in America Acquisition Corp. raised $200 million by pricing its SPAC IPO of 20.0 million units at $10.00 each. Its stock ended flat at $10.00 on Tuesday, its first day of NASDAQ trading.
This SPAC, Drugs Made in America Acquisition Corp., will focus on North America’s pharmaceutical industry in its search for an acquisition target.
Clear Street was the sole book-runner of this IPO.
A third SPAC IPO – Stellar V Capital Corp. (SVCCU Proposed) – is expected to price its $150.0 million deal on Wednesday night, Jan. 29. That deal will consist of 15.0 million units at $10.00 each. Each unit will consist of one share of common stock and one-half of a warrant. This SPAC is also a NASDAQ listing.
BTIG LLC is the sole book-runner of this IPO.
Stellar V Capital Corp., a New York-based SPAC, was founded by two Greek shipping executives, Prokopios Tsirigakis and George Syllantavos, who are the co-CEOs of Nautilus Energy Management, a maritime energy services company.
Source: https://www.iposcoop.com/the-ipo-buzz-fg-merger-ii-corp-raises-80-million-its-among-3-spac-ipos-this-week/
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