Forum Merger Corp’s (FMCIU) Quiet Period Set To Expire on September 12th
Forum Merger’s (NASDAQ:FMCIU) quiet period is set to expire on Wednesday, September 12th. Forum Merger had issued 20,000,000 shares in its IPO on August 3rd. The total size of the offering was $200,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Shares of FMCIU stock opened at $9.99 on Friday. Forum Merger has a 52 week low of $9.95 and a 52 week high of $10.05.
In other news, CEO David Boris acquired 555,000 shares of Forum Merger stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $5,550,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
ConvergeOne Holdings, Inc, formerly Forum Merger Corporation, is an information technology (IT) service provider of collaboration and technology solutions for large and medium enterprises. It offers collaboration, enterprise networking, data center, cloud and security solutions to its customers. It delivers these offerings across several delivery models including on-premise, and in private, hybrid, and public clouds, as well as the proprietary ConvergeOne Cloud, regardless of client’s existing infrastructure.
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