I would very much like to invest in this within the next week or two. In sure other people here are watching keenly given the news over the last few weeks.
Knock the W off the ticker. The W is for the warrants. Just FMCI
I can only find a seeking alpha article hidden behind a paywall - are there any details you can share on the rumours or articles?
They have $200m in trust, could raise more at time of any merger through other offerings. Speculation target is Impossible Foods. They last raised in March I believe at ~$4bn valuation but have since stated they are seeking more. After the success of Beyond Meat they can be confident to trade at a high premium perhaps higher than achievable on private markets. Once listed they can issue more equity through a secondary with little dilution if price is high. Building out the required infrastructure and distribution could be quite capital intensive and being publicly listed may be more suited. An argument against it being Impossible Foods is they are too big at $4Bn to be a candidate. FMCI state on their website they expect their eventual target to have an enterprise value between $500m-$2Bn, however this was stated at inception before Impossible would have been considered. All just speculation, identity of the target has not been announced.
Definitely need that stock. It might end up jumping a lot after the merger even if it’s not Impossible Foods.
Does anyone know which other businesses can be the targets for the merger?