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.

Charting New Course after ThinkMarkets Partnership Dissolves

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.

"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.

"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.

ThinkMarkets' Collaboration with Acuity Trading for AI Market Analysis

In an earlier report, Finance Magnates wrote that ThinkMarkets, gearing up for a public listing, strengthened its service suite through a new collaboration with Acuity Trading, leveraging artificial intelligence (AI) for market analysis.

As part of this partnership, ThinkMarkets 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.

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.

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.

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.