Merchant bank

FG Financial Group, Inc. and FG Group Holdings Inc. Complete Merger

Retrieved on: 
Thursday, February 29, 2024

Mooresville, NC, Feb. 29, 2024 (GLOBE NEWSWIRE) -- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (“FG Group Holdings”) today announced that they have completed the previously announced merger pursuant to which FG Group Holdings merged with and into FG Group LLC, with FG Group LLC surviving as a wholly-owned subsidiary of FG Financial. In connection with the merger, FG Group Holdings’ stockholders received one share of FG Financial common stock in exchange for each share of FG Group Holdings common stock. Following the merger, FG Financial changed its name to Fundamental Global Inc. (“Fundamental Global” or the “Company”). The Company’s common stock and Series A cumulative preferred stock will continue to trade on the Nasdaq under the tickers “FGF” and “FGFPP,” respectively.

Key Points: 
  • Renamed to Fundamental Global Inc.
    Mooresville, NC, Feb. 29, 2024 (GLOBE NEWSWIRE) -- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (“FG Group Holdings”) today announced that they have completed the previously announced merger pursuant to which FG Group Holdings merged with and into FG Group LLC, with FG Group LLC surviving as a wholly-owned subsidiary of FG Financial.
  • In connection with the merger, FG Group Holdings’ stockholders received one share of FG Financial common stock in exchange for each share of FG Group Holdings common stock.
  • Following the merger, FG Financial changed its name to Fundamental Global Inc. (“Fundamental Global” or the “Company”).
  • FG Group Holdings shareholders were resoundingly in favor of this transaction, with 99.9% of the consents returned voting in favor of the plan of merger.

FG Financial Group, Inc. and FG Group Holdings Inc. Complete Merger

Retrieved on: 
Thursday, February 29, 2024

Mooresville, NC, Feb. 29, 2024 (GLOBE NEWSWIRE) -- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (“FG Group Holdings”) today announced that they have completed the previously announced merger pursuant to which FG Group Holdings merged with and into FG Group LLC, with FG Group LLC surviving as a wholly-owned subsidiary of FG Financial. In connection with the merger, FG Group Holdings’ stockholders received one share of FG Financial common stock in exchange for each share of FG Group Holdings common stock. Following the merger, FG Financial changed its name to Fundamental Global Inc. (“Fundamental Global” or the “Company”). The Company’s common stock and Series A cumulative preferred stock will continue to trade on the Nasdaq under the tickers “FGF” and “FGFPP,” respectively.

Key Points: 
  • Renamed to Fundamental Global Inc.
    Mooresville, NC, Feb. 29, 2024 (GLOBE NEWSWIRE) -- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (“FG Group Holdings”) today announced that they have completed the previously announced merger pursuant to which FG Group Holdings merged with and into FG Group LLC, with FG Group LLC surviving as a wholly-owned subsidiary of FG Financial.
  • In connection with the merger, FG Group Holdings’ stockholders received one share of FG Financial common stock in exchange for each share of FG Group Holdings common stock.
  • Following the merger, FG Financial changed its name to Fundamental Global Inc. (“Fundamental Global” or the “Company”).
  • FG Group Holdings shareholders were resoundingly in favor of this transaction, with 99.9% of the consents returned voting in favor of the plan of merger.

i2c Empowers Leading Financial Institutions and Innovators Across Latin America, Caribbean

Retrieved on: 
Thursday, February 15, 2024

i2c Inc. , a leading provider of banking and payments solutions, has added new clients in countries such as Brazil, Dominican Republic, Mexico, Peru and Puerto Rico.

Key Points: 
  • i2c Inc. , a leading provider of banking and payments solutions, has added new clients in countries such as Brazil, Dominican Republic, Mexico, Peru and Puerto Rico.
  • i2c has also added several senior resources in sales, account management and client services teams as it continues to build on its commitment and success to the region.
  • i2c is supporting emerging and established financial institutions to help accelerate their growth with faster innovation cycles and time to market through its building block technology.
  • "We continue supporting our partners in Latin America and the Caribbean as they develop innovative payment solutions that accelerate digital transformation among financial institutions across the region,” said Serena Smith, chief client officer of i2c.

FG Financial Group, Inc. and FG Group Holdings Inc. Sign Definitive Plan of Merger to form Fundamental Global Inc.

Retrieved on: 
Thursday, January 4, 2024

Charlotte, NC, Jan. 03, 2024 (GLOBE NEWSWIRE) -- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (NYSE American: FGH) (“FG Group Holdings”) today announced that they have signed a definitive plan of merger to combine the companies in an all-stock transaction. Upon completion of the merger, the combined company will be renamed to Fundamental Global Inc. and the common stock and Series A cumulative preferred stock of the combined company will continue to trade on the Nasdaq under the tickers “FGF” and “FGFPP,” respectively.

Key Points: 
  • Combined Company to Benefit from Anticipated Significant Expense Savings, Improved Scale and Capital Efficiency
    Charlotte, NC, Jan. 03, 2024 (GLOBE NEWSWIRE) -- FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (NYSE American: FGH) (“FG Group Holdings”) today announced that they have signed a definitive plan of merger to combine the companies in an all-stock transaction.
  • Additionally, the plan of merger and transaction were approved by the majority stockholder of FG Financial.
  • FG Group Holdings common stockholders will receive one share of FG Financial common stock for each share of common stock of FG Group Holdings held by such stockholder.
  • The proposed merger described above will be submitted to FG Group Holdings’ stockholders for their consideration and approval via written consent.

Rand Merchant Bank (RMB): African Risk is not Fairly Priced - Governments Should Take Advantage (By Miranda Abraham)

Retrieved on: 
Tuesday, November 7, 2023

Banks do this knowing that they will also be able to persuade other relationship banks to join the deal as well.

Key Points: 
  • Banks do this knowing that they will also be able to persuade other relationship banks to join the deal as well.
  • Difficulties in assessing risk: It can be difficult to assess the credit risk of African borrowers.
  • As a result of these factors, African risk is often not being priced fairly.
  • African banks and investors are desperate for assets and are very comfortable assessing and understanding sub investment grade African risk.

Rand Merchant Bank (RMB) provides £25m revolving credit facility to Westbrooke’s Yield Plus UK secured private debt fund

Retrieved on: 
Tuesday, November 7, 2023

Rand Merchant Bank (RMB) (www.RMB.co.za) and Westbrooke Alternative Asset Management UK Limited (Westbrooke UK), have announced the completion of a £25m credit facility to Westbrooke Yield Plus Plc (the Fund).

Key Points: 
  • Rand Merchant Bank (RMB) (www.RMB.co.za) and Westbrooke Alternative Asset Management UK Limited (Westbrooke UK), have announced the completion of a £25m credit facility to Westbrooke Yield Plus Plc (the Fund).
  • The implementation coincides with the milestone of the Fund exceeding £100m in assets under management (AUM).
  • This transaction marks a significant milestone for Westbrooke UK and the Fund, reinforcing our commitment to delivering innovative debt solutions to lower-mid market borrowers and originators across the UK."
  • Distributed by APO Group on behalf of Rand Merchant Bank.

Rand Merchant Bank (RMB): The Loan Market Association appoints Rand Merchant Bank’s (RMB) Head of Loan Syndications to board, in first for an African bank

Retrieved on: 
Monday, September 25, 2023

Rand Merchant Bank (RMB): The Loan Market Association appoints Rand Merchant Bank’s (RMB) Head of Loan Syndications to board, in first for an African bank

Key Points: 
  • Rand Merchant Bank (RMB): The Loan Market Association appoints Rand Merchant Bank’s (RMB) Head of Loan Syndications to board, in first for an African bank
    The issuer is solely responsible for the content of this announcement.
  • The Loan Market Association appoints Rand Merchant Bank’s (RMB) Head of Loan Syndications to board, in first for an African bank
    Miranda Abraham, RMB’s ( http://www.RMB.co.za ) Head of Loan Syndications, has been appointed as a Board Member of the Loan Market Association (LMA).
  • Excited to see developing markets have strong representation and to be part of the authoritative voice in the EMEA loan market.
  • In January 2019, Miranda moved to Rand Merchant Bank, where she is Head of Loan Syndications.

KINGSWAY ANNOUNCES FORMATION OF VERTICAL MARKET SOLUTIONS, LLC ("VMS") AND ACQUISITION OF SYSTEMS PRODUCTS INTERNATIONAL, INC. / KINGSWAY SEARCH XCLERATOR ANNOUNCES ADDITION OF MILES MAMON

Retrieved on: 
Monday, September 11, 2023

ET

Key Points: 
  • ET
    Fourth acquisition under the Kingsway Search Xcelerator Program, first in 2023
    CHICAGO, Sept. 11, 2023 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway") today announced the formation of Vertical Market Solutions, LLC ("VMS") and the acquisition of the privately-held vertical market software company Systems Products International, Inc. ("SPI").
  • This acquisition is the fourth acquisition completed under the Kingsway Search Xcelerator Program.
  • "This is Kingsway's fourth acquisition under the Kingsway Search Xcelerator Program and our first in the vertical market software space," said Kingsway President and CEO, J.T.
  • Kingsway also announced today that Miles Mamon has joined its innovative Kingsway Search Xclerator ("KSX") segment as the newest OIR.

FG Financial Group, Inc. Merchant Banking Platform Company FG Merger Corp. Has Completed Business Combination with iCoreConnect

Retrieved on: 
Thursday, August 31, 2023

FG Financial Group, Inc. (Nasdaq: FGF) (the “Company”), today announced that its Merchant Banking platform company, FG Merger Corp. (FG Merger) (Nasdaq: FGMC), has completed its previously announced business combination with iCoreConnect Inc. (Nasdaq: ICCT), a market leading, 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.

Key Points: 
  • FG Financial Group, Inc. (Nasdaq: FGF) (the “Company”), today announced that its Merchant Banking platform company, FG Merger Corp. (FG Merger) (Nasdaq: FGMC), has completed its previously announced business combination with iCoreConnect Inc. (Nasdaq: ICCT), a market leading, 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.
  • FG Merger now operates as iCoreConnect Inc. and began trading on the Nasdaq Capital Market under the ticker “ICCT” on Monday, August 28, 2023.
  • FG Financial Group has beneficial ownership of approximately:
    220,000 common shares of iCoreConnect,
    650,000 convertible preferred shares of iCoreConnect, and
    1 million warrants exercisable into convertible preferred shares of iCoreConnect.
  • FG Financial Group’s CEO Larry Swets, Jr. commented, “We are pleased with FG Merger’s closing of this business combination with iCoreConnect, a market leading software company with an attractive, scalable business model positioned to take advantage of healthcare industry tailwinds.

Rand Merchant Bank (RMB) advises Scatec on fundraising for roll-out of innovative solar solution across Africa, Release Solar

Retrieved on: 
Wednesday, July 19, 2023

Rand Merchant Bank (RMB) advises Scatec on fundraising for roll-out of innovative solar solution across Africa, Release Solar

Key Points: 
  • Rand Merchant Bank (RMB) advises Scatec on fundraising for roll-out of innovative solar solution across Africa, Release Solar
    The issuer is solely responsible for the content of this announcement.
  • Rand Merchant Bank (RMB) advises Scatec on fundraising for roll-out of innovative solar solution across Africa, Release Solar
    Rand Merchant Bank (“RMB”) ( www.RMB.co.za ) is proud to be the sole financial advisor to Scatec ASA (“Scatec”), a leading global renewable energy provider, on a US$102 million investment from Climate Fund Managers (“CFM”) in Release by Scatec (“Release”).
  • Release provides an innovative containerised solar and battery solution to address the rapidly growing energy demand and local power challenges across Africa.
  • Scatec established Release in 2019 with the aim of offering a creative solar alternative to challenge the traditional approach to providing power in emerging markets.