FG Merger Corp. announced a private placement of 55,000 units at a price of $10 per unit for proceeds of $550,000; 3,950,000 warrants to be issued at a price of $1.00 per warrant, each exercisable to purchase one share of common stock at $11.50 per share; and 1,000,000 warrants to be issued at a price of $0.10 per warrant, each exercisable to purchase one share of common stock at $15 per share, for an aggregate purchase price of $4,600,000 on January 21, 2022. Each unit consists of one share of common stock and one-half of one warrant to purchase one share of common stock at an exercise price of $11.50 per share by exercising a whole private warrant.

The transaction will close simultaneously with the consummation of the public offering. The securities will not be transferable, assignable or salable until 30 days after the completion of our initial business combination. The placement warrants will be non-redeemable and will be exercisable on a cashless basis.

The unit warrants will expire five years after the completion of company's initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.