Futurewave Acquisition and Olympian Group announce merger agreement
FWAC•Futurewave Acquisition and Olympian Group announced a merger agreement under which Olympian shareholders will receive 40 million shares valued at $10 each, for a company net value of $400 million. The combined company is expected to be listed on Nasdaq after the merger closes.
1. Merger terms
Olympian shareholders will receive 40 million purchaser shares valued at $10 per share. Founders will receive Class B shares with 10 votes each that are convertible, while other shareholders will receive Class A shares with one vote each. The board is expected to have five directors: one appointed by Futurewave and four by Olympian. Founder shares will be locked up until six months after closing or until the share price reaches $12.50.
