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$FMCI Forum Merger II Corporation Announces Signed Letter

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$FMCI Forum Merger II Corporation Announces Signed Letter of Intent

May 13, 2020 17:19 ET | Source: Forum Merger II Corporation

Delray Beach, FL, May 13, 2020 (GLOBE NEWSWIRE) -- Forum Merger II Corporation (Nasdaq: FMCI) (“Forum” or the “Company”) today announced it has signed a letter of intent and expects to sign a definitive agreement to acquire a high-growth, plant-based food company with a broad portfolio of innovative products that are aligned with major food trends and sold through leading retailers and distributors across the United States (the “Target”).

The Target’s disruptive strategy is focused on addressing the growing consumer demand for nutritious, great tasting, better-for-you products with plant-based food. The Target’s alignment with today’s secular food trends, combined with its robust, plant-based offerings that feature unique ingredients, innovative recipes and creative branding, has allowed it to establish a meaningful market presence in a short period of time. Forum believes that the Target has a compelling financial profile, with significant historical and projected revenue growth and profitability. Forum’s management expects that the anticipated valuation at consummation of the business combination transaction will represent a meaningful discount to relevant public comparable multiples.

Completion of the transaction is subject to, among other things, the negotiation and execution of a definitive agreement providing for the transaction, satisfaction of the closing conditions included therein and approval of the transaction by Forum’s shareholders. Accordingly, there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated.

About Forum Merger II Corporation

Forum Merger II Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

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