FG Merger Corp. (Nasdaq: FGMC) announced this afternoon that it plans to adjourn its August 11 special meeting to vote on its business combination with healthcare workflow platform iCoreConnect.
The meeting will reconvene on August 18, at 10:00 a.m. ET. and the change also pushes the redemption deadline to August 16. Additionally, the record date for the determination of shareholders entitled to vote at the meeting, including all adjournments thereof, will remain July 11.
FG Merger Corp. originally announced its $98 million deal with iCoreConnect in January 2023. The SPAC currently has about $82.5 million in its trust and did not supplement this with additional committed financing. The transaction does not include a minimum cash condition, but if the closing cash is less than $20 million, then the sponsor will forfeit any and all dividends accrued on any shares of preferred stock.
Ocoee, Florida-based iCore Connect is a cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform of applications and services.
The combined company is expected to trade under the symbol “ICCT” once the deal is completed.
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