Forum Investors I LLC purchased 555,000 shares of Forum Merger Corp. (FMCIU, Financial) for $10 per share on April 12 according to SEC filings.
Forum Merger is a blank-check company focused on acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, recapitalization, exchangeable share transaction or other similar business transaction, one or more businesses or assets it has not yet identified.
The company looks for prospective target businesses in the United States, focusing on private companies and divisions of larger companies that are seeking liquidity and facilitate their access to the public equity markets.
On April 12, the company announced the closing of its initial public offering (IPO) of 150,000 shares at a price of $10 per share.
The units began trading on the Nasdaq on April 7.
The company has 3.39 million shares outstanding. As of Dec. 31, 2016, the company had no operations and had not generated any revenues.
Disclosure: Author does not own any shares of this company.
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