FG Merger Corp.’s Lock-Up Period To Expire Tomorrow (NASDAQ:FGMCU)

FG Merger’s (NASDAQ:FGMCU) lock-up period is set to expire on Monday, July 28th. FG Merger had issued 8,000,000 shares in its IPO on January 29th. The total size of the offering was $80,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

FG Merger Stock Up 0.4%

Shares of NASDAQ FGMCU opened at $10.10 on Friday. FG Merger has a 12 month low of $9.70 and a 12 month high of $10.25. The business’s 50 day moving average is $10.04 and its two-hundred day moving average is $9.71.

Institutional Investors Weigh In On FG Merger

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Warberg Asset Management LLC bought a new stake in shares of FG Merger during the first quarter worth $206,000. Polar Asset Management Partners Inc. bought a new stake in FG Merger in the first quarter valued at about $560,000. Wealthspring Capital LLC bought a new stake in FG Merger in the first quarter valued at about $1,221,000. Finally, Heights Capital Management Inc. bought a new stake in FG Merger in the first quarter valued at about $6,518,000.

FG Merger Company Profile

FG Merger Corp. focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company intends to focus its search for a target business in the financial services industry in North America.