ITASCA, Ill., Oct. 14, 2020 /PRNewswire/ -- FG New America
Acquisition Corp. (NYSE: FGNA.U) (the "Company") today announced
the closing of the issuance of an additional 1,275,000 units
pursuant to the partial exercise of the underwriters'
over-allotment option in connection with the Company's initial
public offering. The additional units were sold at the initial
offering price of $10.00 per unit,
generating additional gross proceeds of $12,750,000 to the Company and bringing the total
gross proceeds of the initial public offering to $237,750,000.
FG New America Acquisition Corp. is a blank-check company formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. The Company
intends to concentrate its efforts on identifying businesses in the
insurance and financial services industry, with particular emphasis
on businesses that are providing or changing technology for
traditional financial services ("FinTech"), insurance
("InsureTech"), or other sectors where disruptive and/or adaptive
technology or other factors are driving changes in a new era in the
American business landscape.
The offering was made only by means of a prospectus. Copies of
the prospectus relating to this offering may be obtained from
Piper Sandler, 1251 Avenue of the
Americas, 6th Floor, New York, New
York 10020, by telephone at (866) 805-4128, by email at
prospectus@psc.com and ThinkEquity, a division of Fordham Financial
Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at
(877) 436-3673, by email at prospectus@think-equity.com.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on September 29, 2020.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward Looking-Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and search for an initial business combination. No
assurance can be given that the proceeds of the offering will be
used as indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company's registration statement and prospectus for the initial
public offering filed with the SEC. Copies are available on the
SEC's website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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SOURCE FG New America Acquisition Corp.