FG Imperii Acquisition, a blank check company targeting the financial services sector, raised $200 million by offering 20 million units at $10.00. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.
The SPAC is led by CEO Larry Swets Jr., the founder and Managing Member of advisory and investment firm Itasca Financial, and Chairman Scott Wollney, the CEO of Atlas Financial. The SPAC plans to focus on businesses in the financial services that have strong management teams, differentiated products or services, potential or historical growth, and an identified pathway to long-term profitability.
Management has been involved with several previous SPACs, most recently FG Merger II (FGMC; +1% from $10 offer price), which has a pending merger agreement with modular construction firm Boxabl.
FG Imperii Acquisition plans to list on the Nasdaq under the symbol FGIIU. ThinkEquity acted as sole bookrunner on the deal.
