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Forum Merger Corp (FMCI.OQ)

FMCI.OQ on NASDAQ Stock Exchange Capital Market

9.98USD
18 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Convergeone Announces Combination With Forum Merger to Become Nasdaq-Listed Co, With Anticipated Enterprise Value Of About $1.2 Bln
Friday, 1 Dec 2017 

Dec 1 (Reuters) - CONVERGEONE::CONVERGEONE ANNOUNCES COMBINATION WITH FORUM MERGER CORPORATION TO BECOME PUBLICLY LISTED COMPANY.CONVERGEONE SAYS DEAL WILL ENABLE CO TO BECOME A NASDAQ-LISTED PUBLIC CO, WITH AN ANTICIPATED INITIAL ENTERPRISE VALUE OF ABOUT $1.2 BILLION.CONVERGEONE - IMMEDIATELY UPON CONSUMMATION OF TRANSACTION, FORUM WILL CHANGE ITS NAME TO CONVERGEONE.CONVERGEONE - CLEARLAKE WILL REMAIN LARGEST SHAREHOLDER IN COMBINED COMPANY UPON COMPLETION OF TRANSACTION.CONVERGEONE- ON COMPLETION OF BUSINESS COMBINATION, COMBINED CO WILL CONTINUE TO BE LED BY JOHN A. MCKENNA JR. AS CHAIRMAN AND CEO.CONVERGEONE - PART OF CONSIDERATION PAYABLE TO EXISTING CONVERGEONE SHAREHOLDERS WILL CONSIST OF SHARES OF FORUM COMMON STOCK.CONVERGEONE - EXISTING CONVERGEONE SHAREHOLDERS HAVE POTENTIAL TO RECEIVE AN EARNOUT IF CERTAIN CONVERGEONE ADJUSTED. EBITDA TARGETS ARE MET.CONVERGEONE-AFTER REDEMPTIONS, BALANCE OF ABOUT $175 MILLION WITH $144 MILLION IN PLACEMENTS TO BE USED TO PAY EXISTING CO SHAREHOLDERS CASH CONSIDERATION.  Full Article

BRIEF-Clearlake Capital-Backed Convergeone Acquires Aos

* CLEARLAKE CAPITAL-BACKED CONVERGEONE ACQUIRES AOS Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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