ThinkMarkets and FG Acquisition Part Ways in Business Combination

<p>FG Acquisition Corp. and Think Financial Group Holdings
Limited (ThinkMarkets) have jointly decided to terminate the previously
disclosed business combination agreement dated May 12, 2023, linked to the
proposed business combination transaction. </p><p>Charting New Course after ThinkMarkets Partnership Dissolves</p><p>The Corporation, under the laws of the Province of British
Columbia, remains committed to exploring alternative opportunities for a
qualifying acquisition before the deadline on July 5, 2024, as mandated by
shareholders at the special meeting held on June 29, 2023. </p><p>"We wish ThinkMarkets well in their future endeavors.
With our robust merchant banking activities in both Canada and the United
States, we look forward to pursuing a new target for the Corporation in the
days and weeks ahead," stated Kyle Cerminara, the Chair of the Corporation's
board, and Larry Swets, the Chief Executive Officer.</p><p>"We would like to thank the team at FG for the
opportunity provided. We are looking forward to 2024 and expanding on our long-term
growth strategy and objectives," stated Nauman Anees, the CEO and Co-Founder
of ThinkMarkets.</p><p>ThinkMarkets'
Collaboration with Acuity Trading for AI Market Analysis</p><p>In an earlier report, <a href="https://www.financemagnates.com">Finance Magnates</a> wrote that ThinkMarkets,
gearing up for a public listing, strengthened its <a href="https://www.financemagnates.com/forex/brokers/thinkmarkets-enhances-offering-with-acuity-trading-partnership/">service
suite through a new collaboration with Acuity Trading</a>, leveraging
artificial intelligence (AI) for market analysis. </p><p>As part of this partnership, <a href="https://www.financemagnates.com/tag/thinkmarkets/">ThinkMarkets</a> has
integrated Acuity Trading's Signal Centre tools into its trading ecosystem,
offering traders up to 40 high-quality, real-time signals daily. These signals,
including entry, exit, and stop loss levels, are delivered at the market
opening.</p><p>Anees emphasized the commitment to enhancing traders'
experiences and providing valuable tools for informed decision-making. Acuity
Trading, founded in 2013 and based in London, employs proprietary technology
with Machine Learning and Natural Language Processing to extract sentiment data
from global news sources, offering sophisticated market insights.</p><p>The collaboration aligns with ThinkMarkets' strategy as it
pursues a reverse merger for a public listing, anticipated in July 2023. The
company, with 138,500 clients across 165 countries, achieved a revenue of $62
million in 2022, exhibiting a 24 percent Compound Annual Growth Rate. </p><p>The pre-money valuation stands at $160 million, implying a
pro forma enterprise value of approximately $190 million. Recently,
ThinkMarkets also disclosed partnerships with BlackBull Markets and Acuity
Trading, to provide analytics platforms and tools for traders.</p>

This article was written by Tareq Sikder at www.financemagnates.com.