FG Acquisition Corp. Announces Proposed Acquisition Of Strong/MDI Screen Systems And Saltire Holdings Launch
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FG Acquisition Corp. (FGAC) announced its intention to acquire Strong/MDI Screen Systems, making MDI a wholly-owned subsidiary. The acquisition, valued at a pre-money valuation of $30 million, will be FGAC's Qualifying Acquisition. The purchase will be satisfied with cash, preferred shares, and common shares, with the cash amount being 25% of the net proceeds from a concurrent private placement.
May 03, 2024 | 9:03 pm
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FG Acquisition Corp. announces acquisition of Strong/MDI Screen Systems, valuing the deal at $30 million. The acquisition will be paid with cash, preferred shares, and common shares.
The acquisition of Strong/MDI Screen Systems by FG Acquisition Corp. is a significant move, likely to be viewed positively by investors as it represents strategic growth. The deal structure, involving cash and shares, suggests a balanced approach to financing the acquisition, which might be seen as a positive signal about FGAC's financial health and strategic planning. However, the exact short-term impact on the stock price will depend on investor perception of the acquisition's value and the terms of the deal.
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