TORONTO, Aug. 7, 2024
/CNW/ - FG Acquisition Corp. (TSX: FGAA.U) (TSX: FGAA.WT.U)
("FGAC" or the "Corporation"), a special purpose
acquisition company, announced today that, in connection with the
closing of its acquisition of Strong/MDI Screen Systems, Inc. (the
"Qualifying Acquisition"), which is anticipated to occur in
the first week of September 2024, it
has determined the Redemption Election Deadline and IPO Warrant
Deposit Deadline (in each case, as defined below).
In connection with the Qualifying Acquisition, holders of the
Class A restricted voting shares (the "Class A Restricted Voting
Shares") have the right to redeem all or a portion of their
Class A Restricted Voting Shares, provided that they deposit their
Class A Restricted Voting Shares prior to 5:00 p.m. (Toronto time) on September 3, 2024 (the "Redemption Election
Deadline") in accordance with the instructions contained in the
notice of redemption (the "Notice of Redemption"), a copy of
which is available on SEDAR+ at sedarplus.ca and is being mailed to
holders of the Class A Restricted Voting Shares.
In addition, holders of share purchase warrants of FGAC (the
"IPO Warrants"), other than FGAC Investors LLC and CG
Investments VII Inc. (collectively, the "Sponsors"), have
the right to require the Sponsors to acquire all or a portion of
their IPO Warrants for US$1.25 per
IPO Warrant, provided that they deposit their IPO Warrants prior to
5:00 p.m. (Toronto time) on August
28, 2024 (the "IPO Warrant Deposit Deadline"), in
accordance with the instructions contained in the notice of
qualifying transaction (the "Notice of Qualifying
Transaction"), which is available on SEDAR+ at www.sedarplus.ca
and has been mailed to the registered holders of the IPO
Warrants.
About FGAC
FG Acquisition Corp. is a special purpose acquisition company
incorporated under the laws of British
Columbia for the purpose of effecting, directly or
indirectly, an acquisition of one or more businesses or assets, by
way of a merger, amalgamation, arrangement, share exchange, asset
acquisition, share purchase, reorganization, or any other similar
business combination involving the Corporation. Kyle Cerminara serves as Chairman, Larry Swets, Jr. serves as Director and Chief
Executive Officer, and Hassan R.
Baqar serves as Director and Chief Financial Officer of the
Corporation. In addition, Robert I.
Kauffman, a former co-founder and Principal of Fortress
Investment Group, serves as a Senior Advisor to the Corporation.
The Corporation received $115 million
of proceeds from its initial public offering which was completed on
April 5, 2022 and the closing of the
over-allotment option granted in connection with such initial
public offering which was completed on April
20, 2022. The gross proceeds of the offering were placed in
an escrow account with TSX Trust Company immediately thereafter and
will be released upon consummation of the Qualifying Acquisition in
accordance with the terms and conditions of the escrow
agreement.
SOURCE FG Acquisition Corp.
