All the resolutions put to a vote in a meeting held by FG Acquisition Corporation, the special purpose acquisition company (SPAC) that will take ThinkMarkets public, have been approved. The approvals were done by shareholders in a virtual meeting held on June 29, the corporation said yesterday (Thursday).

Articles of Corporation

One of the resolutions provided that the Class B shares of the corporation be converted to common shares instead of converting them to proportionate voting shares once the acquisition deal is closed.

Other resolutions: the creation of a class of preferred shares that would be issued in series; the removal of the Class A restricted voting shares; the Class B shares; and the proportionate voting shares of the corporation were also passed on Friday.

Besides the amendments to the articles of corporation, the shareholders passed a resolution to authorize the board of directors to adopt an omnibus incentive plan. Additionally, the decision to move the completion date of the qualifying acquisition from July 5, 2023, to July 5, 2024, was passed.

ThinkMarkets announced the decision to become a publicly traded company in May. The multi-asset brokerage firm, founded in 2010 and headquartered in Australia, would list shares on the Toronto Stock Exchange. The broker hopes to expand its operations and reach more traders by becoming a public company.

Publicly Traded Company

"Becoming a publicly traded company will allow us to continue to bring better, faster, more advanced innovative technology to the market for online traders, plus a wider offering of products for the ever-evolving needs of our customer bases," commented Nauman Anees, the company’s Co-Founder and CEO.

In preparation for the listing, ThinkMarkets has been launching new products and services for traders. Recently, Finance Magnates reported that the retail FX and CFD broker had launched a copy trading app to cater to new traders.

Additionally, the company partnered with Acuity Trading, a company using Artificial Intelligence (AI) technology for market analysis. The partnership aims to enhance the experience of the retail traders and to enable them to achieve their goals, the company said during the launch.