Forum Merger III Corporation, a blank check company, announced the closing of its initial public offering of 25,000,000 units for the price of $10.00 on every unit.
On August 19, 2020, Forum Merger III Corporation units started trading on the Nasdaq Capital Market with ticker symbol “FIIIU”. Each unit is euqal to Company’s one Class A common stock share and one-third of one redeemable warrant. Each whole warrant is exercisable to buy each share of Class A common stock for $11.50 per share price once the securities comprising the units begin separate trading.
The Company has also allotted underwriters to cover over-allotments, if any, a 45-day option to purchase up to 3,750,000 additional units at the price of initial public offering. For the offering, Jefferies LLC worked as the book running manager.
The Class A common stock and warrants will be listed on Nasdaq with the symbols “FIII” and “FIIIW,” on the start of separate trading of securities based on units. Marshall Kiev and David Boris are the Co-Chief Executive Officers who are leading the company.
The merger, capital stock exchange, asset acquisition of the compahy, company’s stock purchase, reorganization or similar business combination of the company with one or more businesses happened on the formation of a blank check company Forum Merger III Corporation.
While the Company intends to carry out the target of an initial business combination related to any business or industry. It will focus on looking for the U.S. based companies who have an aggregate enterprise value between $500 million and $2 billion.
Shawn Harris is a Master’s in Business Administration by education. After completing his post-graduation, Shawn jumped the journalism bandwagon as a freelance journalist. Soon after that he landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor. As an avid day trader, Shawn is a master of technical analysis and writes tirelessly on how stocks are trading. He has extensive knowledge in technical analysis & news writing.