FG Merger III registered to offer 15 million units at $10 each. A unit consists of one share and one-half of a warrant.
The new SPAC is focused on financial services.
CEO Larry G. Swets, Jr. founded Itasca Financial, an advisory and investment firm, in 2005 and has served as its managing member since then. Swets also founded and is the president of Itasca Golf Managers, a management services and advisory firm focused on the real estate and hospitality industries. He has served as CEO of FG Financial Group (NASDAQ: FGF; formerly 1347 Property Insurance Holdings), which operates as a diversified reinsurance, investment management and real estate holding company.
ThinkEquity is the sole bookrunner on the deal.
The sponsor’s other SPACs include FG Merger II, which filed for a $75 million raise in October, and FG Merger, which completed a deal with healthcare software firm iCoreConnect in August.
The new SPAC has applied for a Nasdaq listing, but has not yet selected a ticker symbol. Read more.
