• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    iCoreConnect Announces Completion of Business Combination

    8/25/23 4:05:00 PM ET
    $FGMC
    Get the next $FGMC alert in real time by email

    Shares will begin trading on The Nasdaq Capital Market under the ticker symbol "ICCT" on August 28, 2023

    iCoreConnect to receive $18.8 million in proceeds to accelerate future growth

    iCoreConnect Inc. (OTCQB:ICCT) ("iCore" or the "Company"), a leading cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform, today announced the closing of its previously announced business combination with FG Merger Corp. ("FGMC") (NASDAQ:FGMC), a special purpose acquisition corporation. The common stock of the combined company, which will operate as iCoreConnect Inc., is expected to commence trading on The Nasdaq Capital Market under the ticker symbol "ICCT" on August 28, 2023.

    ICCT shares on the OTC Market will be converted into shares of common stock in the combined company. Every 29.84 shares of iCore outstanding prior to the closing will receive one share of the combined company.

    Robert McDermott, who will remain CEO of iCoreConnect, stated, "This business combination and uplisting to the NASDAQ provides us with capital to accelerate our growth to a rapid pace and expand our reach to new markets as we work to meet the significant demand for our critical solutions across the healthcare industry. Our mission is to address significant pain points in dental and medical practices through the utilization of our cutting-edge products and technology, which results in increased efficiency and profitability for our customers. As we enter a new phase of growth, we look forward to continuing to serve our customers and creating long-term value for all stakeholders."

    Wes Schrader, CEO of FGMC, and Larry Swets, Chairman of FGMC, jointly commented, "We are pleased with the closing of this transaction and are excited to see Robert and the rest of his team execute their growth strategy going forward. We believe the capital from this transaction will serve as a catalyst to unlock the Company's growth potential and have the utmost confidence in Robert's ability to maximize it."

    Since announcing the proposed business combination in January 2023, iCore has expanded its product offering of its cloud-based platform and grown its subscriber count by over 14%, with even more substantial growth anticipated from multiple wins among enterprise-level customers. The Company also added to its many partnerships with state and medical associations and bolstered its Board of Directors with the addition of three new members.

    iCore continues to expect to achieve its previously stated fiscal year 2023 revenue forecast of approximately $17 million with annualized recurring revenue (ARR) at the end of 2023 of approximately $29 million (calculated as December 2023 revenue multiplied by twelve).

    Shares of FGMC common stock will be exchanged for convertible preferred stock of the combined company. The convertible preferred stock has a 12% coupon (payable in cash or paid-in-kind for the first 24 months after the close of the transaction and cash thereafter) and offers downside protection for the first 12 months after the close of the business combination (the conversion price will be reset based on the trading price of ICCT common stock after one year).

    The Business Combination was approved by FGMC's stockholders at its special meeting held on August 18, 2023.

    Advisors

    ThinkEquity served as financial advisor to FG Merger Corp. in connection with the business combination. Loeb & Loeb LLP served as legal advisor to FGMC. ArentFox Schiff LLP served as legal advisor to iCoreConnect.

    About iCoreConnect

    iCoreConnect, Inc. is a market leading, cloud-based software and technology company focused on increasing workflow productivity and practice profitability through its enterprise and healthcare workflow platform of applications and services. iCoreConnect is most notably known for its innovation in solving healthcare business problems. The company's philosophy places a high value on customer feedback, allowing iCoreConnect to respond to the market's needs. iCoreConnect touts a platform of 16 SaaS enterprise solutions and more than 100 agreements with state or regional healthcare associations across the country.

    About FG Merger Corp.

    FG Merger Corp. is a Nasdaq-listed blank check company, whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one of more businesses.

    Forward Looking Statements

    Certain statements included in this communication are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication and on the current expectations of FGMC's and iCoreConnect's respective management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of FGMC and iCoreConnect. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political and legal conditions.

    If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that FGMC and iCoreConnect do not presently know, or that FGMC and iCoreConnect currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect FGMC's and iCoreConnect's current expectations, plans and forecasts of future events and views as of the date hereof. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of FGMC and iCoreConnect described in the joint preliminary proxy statement and a preliminary prospectus contained in the Form S-4 registration statement that FGMC and iCoreConnect filed with the SEC, including those under "Risk Factors" therein. FGMC and iCoreConnect anticipate that subsequent events and developments will cause their assessments to change. However, while FGMC and iCoreConnect may elect to update these forward-looking statements at some point in the future, they each specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing FGMC's or iCoreConnect's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20230825152260/en/

    Get the next $FGMC alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $FGMC

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $FGMC
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Large owner Fg Merger Investors Ii Llc bought 223,300 shares (SEC Form 4)

      4 - FG Merger II Corp. (0001906364) (Issuer)

      2/3/25 8:40:37 PM ET
      $FGMC

    $FGMC
    SEC Filings

    See more
    • FG Merger II Corp. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Other Events, Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - FG Merger II Corp. (0001906364) (Filer)

      5/14/25 9:52:16 PM ET
      $FGMC
    • SEC Form SCHEDULE 13G filed by FG Merger II Corp.

      SCHEDULE 13G - FG Merger II Corp. (0001906364) (Subject)

      5/13/25 11:03:48 AM ET
      $FGMC
    • SEC Form 10-Q filed by FG Merger II Corp.

      10-Q - FG Merger II Corp. (0001906364) (Filer)

      4/30/25 4:54:01 PM ET
      $FGMC

    $FGMC
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • New insider Mcintyre Andrew claimed ownership of 10,000 shares (SEC Form 3)

      3 - FG Merger II Corp. (0001906364) (Issuer)

      4/7/25 3:38:37 PM ET
      $FGMC
    • SEC Form 4 filed by Chief Financial Officer Baqar Hassan

      4 - FG Merger II Corp. (0001906364) (Issuer)

      4/2/25 9:18:16 PM ET
      $FGMC
    • SEC Form 4 filed by Chief Financial Officer Baqar Hassan

      4 - FG Merger II Corp. (0001906364) (Issuer)

      3/13/25 9:10:20 PM ET
      $FGMC

    $FGMC
    Financials

    Live finance-specific insights

    See more
    • iCoreConnect Announces Clarification Regarding Trading of Common Stock, Warrants and Preferred Stock

      OCOEE, FL, Aug. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – iCoreConnect Inc. (NASDAQ:ICCT) ("iCore" or the "Company"), a leading cloud-based software and technology company focused on increasing workflow productivity and customer profitability through its enterprise and healthcare workflow platform, previously announced the closing of its business combination with FG Merger Corp. ("FGMC") (NASDAQ:FGMC), a special purpose acquisition corporation. As part of the business combination: ICCT shares on the OTC Market have been converted into shares of common stock of the combined entity, which will operate as iCoreConnect Inc. and will commence trading on The Nasdaq Capital Market under t

      8/28/23 4:29:30 PM ET
      $FGMC
    • FG Group Holdings Reports First Quarter 2023 Operating Results

      Charlotte, NC, May 15, 2023 (GLOBE NEWSWIRE) -- FG Group Holdings Inc. (NYSE:FGH) (the "Company" or "FG Group Holdings") today announced operating results for the first quarter ended March 31, 2023. Operational Highlights  ●In the Company's entertainment operating business, cinema services and screen revenue grew 36% and 23%, respectively, related to the acceleration of laser projection upgrade projects. Revenue from non-cinema customers declined primarily due to timing of several large immersive and military projects in the first quarter of 2022.    ●Strong Studios acquired the worldwide global distribution rights for the Flagrant series.    ●The Company's equity holdings co

      5/15/23 5:10:00 PM ET
      $BKTI
      $FGF
      $FGH
      $FGMC
      Radio And Television Broadcasting And Communications Equipment
      Technology
      Property-Casualty Insurers
      Finance
    • FG Group Holdings to Announce 2023 First Quarter Financial Results and Host Conference Call

      CHARLOTTE, N.C., May 12, 2023 (GLOBE NEWSWIRE) -- FG Group Holdings Inc. (NYSE:FGH) (the "Company" or "FG Group Holdings") today announced that the Company will issue its 2023 first quarter financial results after the market close on Monday, May 15, 2023. The Company's financial results and an accompanying slide presentation will be available on the Investor Relations page of the Company's website at https://fg.group/investor-relations/. A conference call to discuss the Company's 2023 first quarter financial results will be held on Wednesday, May 17, 2023 at 8:30 am Eastern Time. Interested parties can listen to the call via live webcast or by phone. To access the webcast, visit the Compa

      5/12/23 8:30:00 AM ET
      $BKTI
      $FGF
      $FGH
      $FGMC
      Radio And Television Broadcasting And Communications Equipment
      Technology
      Property-Casualty Insurers
      Finance

    $FGMC
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • FG MERGER II CORP. REPORTS FIRST QUARTER 2025 INTERIM FINANCIAL RESULTS

      ITASCA, Ill., May 1, 2025 /PRNewswire/ -- On April 30, 2025 FG Merger II Corp. (the "Company") (NASDAQ:FGMC) reported its first quarter interim financial results as at and for the three months ended March 31, 2025. The value of the Company's trust account balance per share as of March 31, 2025, was approximately $10.14 per share. The Company expects the balance to increase as interest is earned. The Company is allowed to withdraw some of the interest for working capital; however such withdrawal can only be from interest earned and under no circumstances can the trust balance per share fall below the original deposit of $10.10 per share due to any withdrawal. About FG Merger II Corp. FG Merg

      5/1/25 4:42:00 PM ET
      $FGMC
    • FG Merger II Corp. Announces the Separate Trading of its Common Stock and Rights Commencing February 11, 2025

      ITASCA, Ill., Feb. 6, 2025 /PRNewswire/ -- FG Merger II Corp. (NASDAQ:FGMC) (the "Company") announced today that, commencing February 11, 2025, holders of the units sold in the Company's initial public offering completed on January 30, 2025 may elect to separately trade the shares of common stock (the "Common Stock") of the Company and the rights included in such units on The Nasdaq Global Market ("Nasdaq"). The Common Stock and rights that are separated will trade on Nasdaq under the symbols "FGMC" and "FGMCR," respectively. Those units not separated will continue to trade on Nasdaq under the symbol "FGMCU." Holders of units will need to have their brokers contact Continental Stock Transfe

      2/6/25 6:20:00 PM ET
      $FGMC
    • FG Merger II Corp. Prices $80,000,000 Initial Public Offering

      ITASCA, Ill., Jan. 28, 2025 /PRNewswire/ -- FG Merger II Corp., a newly organized blank check company formed as a Nevada corporation, today announced the pricing of its initial public offering ("IPO") of 8,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one share of common stock and one right. Each right entitles the holder thereof to receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination. The units are expected to trade on the Nasdaq Global Market ("NASDAQ") under the ticker symbol "FGMCU" beginning January 29, 2025. FG Merger II Corp. expects the IPO to close on January 30, 2025, subject to customary

      1/28/25 5:23:00 PM ET
      $FGMC

    $FGMC
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by FG Merger Corp. (Amendment)

      SC 13G/A - iCoreConnect Inc. (0001906133) (Subject)

      2/14/24 2:14:47 PM ET
      $FGMC
    • SEC Form SC 13G/A filed by FG Merger Corp. (Amendment)

      SC 13G/A - iCoreConnect Inc. (0001906133) (Subject)

      2/14/24 9:12:34 AM ET
      $FGMC
    • SEC Form SC 13G filed by FG Merger Corp.

      SC 13G - iCoreConnect Inc. (0001906133) (Subject)

      2/9/24 4:06:58 PM ET
      $FGMC