Bergamo Acquisition Corp. (BGMO)

[StockFraudStopper]

Please explain how "cash backed securities" translates into cash in the bank. As I read the press release, National International gave BGMO "cash backed securities" not actual cash. Then it says that "these funds" will remain on deposit. What funds? All they gave was cash backed securities! When were they securities converted into cash?

What did National International get from BGMO in return for giving BGMO $1.5 billion of cash backed securities? That information isn't anywhere in the PRs.