FG Imperii agrees to merge with tZERO Group in $325 million share deal
FG Imperii Acquisition Corp., a special purpose acquisition company (SPAC), signed a merger agreement on October 31, 2026, with tZERO Group, Inc. The deal values tZERO at a $350 million pre-money equity valuation, including up to $25 million tied to milestones, and would pay tZERO holders in FG Imperii Class A shares, with the combined company expected to trade on NYSE American as TZRO. Closing requires shareholder approvals, an effective Form S-4 and regulatory steps, and the trust cash available to the combined company depends on redemptions by public shareholders.
Key points
- Merger consideration of $325 million in FG Imperii Class A shares valued at $10.00 each, plus 2,500,000 earn-out shares held in escrow
- Up to approximately $231 million of cash held in FG Imperii's trust account, subject to redemptions by public shareholders
- Expected close in early 2027; either party may terminate if closing conditions are not met by March 15, 2027
- Support agreements cover approximately 62% of tZERO's capital on a fully diluted basis
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.