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Warrant Symbol - FGAA.WT.U
Number  Trading - 10,100,000
Expiration Date - May 16, 2027
Cusip - 30327L 11 4
Exercise Price - $11.50 USD

Warrants called to trade news:




FG Acquisition separation of units

2022-05-12 17:57 MT - Miscellaneous

The Toronto Stock Exchange reports that FG Acquisition Corp.'s Class A restricted voting units will separate into Class A restricted voting shares and warrants. According to the TSX, the shares and warrants will be listed and posted for trading at the open on May 16, 2022, and the units will be delisted at the same time. There will be 11.5 million shares and 10.1 million warrants issued and outstanding, and 11.6 million shares reserved for issuance. The shares will trade under the symbol FGAA.U and Cusip No. 30327L 10 6, and the warrants will trade under the symbol FGAA.WT.U and Cusip No. 30327L 11 4. Both the shares and warrants will trade in U.S. dollars.

Principal terms of the warrants

According to the TSX, each whole warrant will entitle the holder to purchase one Class A restricted voting share. The warrants will become exercisable, at $11.50 (U.S.) per share, commencing 65 days after the completion of the qualifying acquisition. As the Class A restricted voting shares will have been automatically converted into common shares, each whole warrant will then be exercisable for one common share. The TSX notes that the initial public offering (IPO) warrants shall contain a right to require the sponsors to acquire such IPO warrants in connection with a qualifying acquisition or winding up for $1.25 (U.S.) per IPO warrant.

The warrants will expire at 5 p.m. Toronto time on the day that is five years after the completion of the qualifying acquisition, subject to an acceleration clause. If the expiry date is accelerated, the company's board will have the option to require all holders wishing to exercise the accelerated warrants to do so, in whole or in part, on a cashless basis.

For more information, see the final prospectus dated March 28, 2022, and the TSX bulletin dated April 1, 2022.

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