ThinkMarkets, an online broker based in Australia that deals with various types of assets, has recently entered into a merger agreement with a Canadian Special Purpose Acquisition Company (SPAC) called FG Acquisition Corp. This merger is significant because it will take ThinkMarkets public on the Toronto Stock Exchange.

This deal has been assessed before the merger, and it's valued at approximately $160 million, with the company's total estimated worth reaching around US$190 million.

Based on this exciting news, ThinkMarkets reported that its revenue for the year 2022 reached $62 million, showing an impressive compound annual growth rate (CAGR) of 24%.

Moreover, the number of approved customers has seen substantial growth, increasing from 17,200 in late 2015 to a remarkable 138,500 by March 2023.

As part of this merger, ThinkMarkets will not only become a publicly traded company but will also become a subsidiary wholly owned by SPAC. ThinkMarkets' shareholders will hold a significant portion of the Common Shares issued.

Additionally, SPAC is planning to raise $20 million through the private placement of convertible notes, which will be used to support its growth strategy, working capital, and overall objectives.

Larry G. Sweatts Jr., the CEO of FG Acquisition Corp, expressed his optimism about this acquisition, stating, "We are excited to bring this acquisition to our shareholders and believe that investing in ThinkMarkets, a global multi-asset online broker, presents an appealing opportunity. We have confidence in ThinkMarkets' team to lead in this industry and chart a path for clear growth. We eagerly anticipate supporting Nauman and the entire ThinkMarkets team as they embark on this journey as a company."