FG Acquisition Corp. Announces Proposed Acquisition Of Strong/MDI Screen Systems And Saltire Holdings Launch
FG Acquisition Corp. Announces Proposed Acquisition Of Strong/MDI Screen Systems And Saltire Holdings Launch
On May 3, 2024 FGAC and the Sponsors entered into the Acquisition Agreement with Strong Global and MDI, pursuant to which FGAC intends to acquire, directly or indirectly, all of the outstanding shares in the capital of MDI. As a result of the MDI Acquisition, MDI will become a wholly-owned subsidiary of FGAC. The MDI Acquisition will constitute FGAC's Qualifying Acquisition, and values MDI at a pre-money valuation of $30 million (as adjusted pursuant to the Acquisition Agreement, the "MDI Equity Value").
2024年5月3日，FGAC和保薦人與Strong Global和MDI簽訂了收購協議，根據該協議，FGAC打算直接或間接收購MDI資本中的所有已發行股份。收購MDI後，MDI將成爲FGAC的全資子公司。MDI收購將構成FGAC的合格收購，MDI的估值爲3000萬美元（根據收購協議進行調整，即 “MDI股權價值”）。
On Closing, FGAC will satisfy the Purchase Price (as defined in the Acquisition Agreement) with: (i) cash, in an amount equal to 25% of the net proceeds of a concurrent private placement, if any (the "Cash Consideration"), (ii) the issuance to Strong Global of preferred shares ("Preferred Shares") with an initial preferred share redemption amount of $9,000,000, and (iii) the issuance to Strong Global of that number of Common Shares equal to (a) the MDI Equity Value minus * the Cash Consideration and (y) the Preferred Shares, divided by (b) $10.00.
收盤時，FGAC將以以下方式滿足收購價格（定義見收購協議）：（i）現金，金額相當於並行私募股權淨收益的25％（“現金對價”），（ii）向Strong Global發行初始優先股贖回金額爲9,000,000美元的優先股（“優先股”），以及（iii）向Strong Global發行該數量的普通股股份等於（a）MDI權益價值減去*現金對價和（y）優先股，除以（b）10.00美元。