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Wednesday, August 16, 2023

Equity Corporate Actions Alert #2023 - 472
(UPDATED: Timing revised & merger completed) Information Regarding the Merger of Franchise Group, Inc. (FRG & FRGAP)

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  • Industry Announcement

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At a special meeting held on August 17, 2023, the shareholders of Franchise Group, Inc. (FRG & FRGAP) approved a merger with Freedom VCM, Inc. The merger closed prior to the market open on August 21, 2023. The stock will remain halted on the day of closing (August 21st) and will be suspended effective August 22, 2023. The details are as follows:

Company Name & Issue Type: Franchise Group, Inc. Common Stock
CUSIP#: 35180X105
Symbol: FRG
Last Trading Date: August 18, 2023
Marketplace Effective Date for Suspension: August 22, 2023
Merger Consideration: $30.00 for each share held.
Company Name & Issue Type: Franchise Group, Inc. 7.50% Series A Cumulative Perpetual Preferred Stock
CUSIP#: 35180X204
Symbol: FRGAP
Last Trading Date: August 18, 2023
Marketplace Effective Date for Suspension: August 22, 2023
Merger Consideration: Subject to Mandatory Redemption; $25.00 per share plus any accrued and unpaid dividends

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