- Continues to simplify its organizational structure
MOORESVILLE, N.C., July 14,
2022 /PRNewswire/ -- Fundamental Global®, a
private partnership focused on long-term strategic holdings, filed
an amendment to its Schedule 13D today, to reflect the recent
purchases of 632,911 shares of common stock of FG Financial Group,
Inc. ("FGF"), which were previously reported in its Form 4 filings,
and which can be viewed here. Following these transactions,
Fundamental Global and its affiliates, including Ballantyne Strong, Inc. (NYSE-American:
BTN), collectively hold approximately 58.5% of FGF's common
stock.
In addition to the recent purchases of FGF, Fundamental Global
highlighted several other events that change the way its ownership
is reported, as follows:
- In December 2020, Fundamental
Global divested its 50% ownership interest in CWA Asset Management
Group, LLC d/b/a Capital Wealth Advisors. Any shares of FGF that
were previously reported as being held in CWA client accounts, have
now been removed from Fundamental Global's filings going
forward.
- In July 2021, Fundamental Global
dissolved the FGI Global Asset Allocation Fund Ltd, and in
August 2021, Fundamental Global
assigned management authority for (i) the Fundamental Global
Capital Appreciation Fund LP, and (ii) the FGI Global Asset
Allocation Master Fund LP, and the CWA FGI Special Opportunities
Fund LP, to EverStar Asset Management LLC and to CW Institutional
LLC, respectively. As a result, any shares of FGF that were
previously reported as being held by any of these entities, have
now been removed from Fundamental Global's filings going
forward.
- Also in August 2021, Fundamental
Global Investors LLC assigned management authority for its other
entities to Fundamental Global GP LLC. As a result, Fundamental
Global Investors LLC has been removed from Fundamental Global's
filings going forward.
- In December 2021, Fundamental
Global Partners Master Fund LP contributed all of its holdings to
Fundamental Activist Fund I LP, and Fundamental Global began the
process of dissolving the master fund and its offshore feeder. As a
result, any shares of FGF that were previously reported as being
held by the master fund, are now reported as being held by
Fundamental Activist Fund I LP going forward.
Fundamental Global CEO and FG Financial Group Chairman,
D. Kyle Cerminara, commented, "We
are pleased with our recent purchase of FGF, and we consider it to
be one of Fundamental Global's long-term strategic holdings.
Furthermore, we are working diligently to eliminate unnecessary
distractions that not only help simplify our organizational
structure, but that also allow us to focus on our best
opportunities."
Fundamental Global®
Fundamental Global® is a private partnership focused on
long-term strategic holdings. Fundamental Global® was co-founded by
former T. Rowe Price, Point72 and
Tiger Cub portfolio manager Kyle
Cerminara and former Chairman and CEO of TD Ameritrade,
Joe Moglia. Its current holdings
include FG Financial Group Inc. (Nasdaq:FGF,FGFPP), Ballantyne
Strong Inc. (NYSE American:BTN), BK Technologies Corp (NYSE
American:BKTI), GreenFirst Forest Products, Inc. (TSX:GFP), FG
Merger Corp. (Nasdaq:FGMC), FG Acquisition Corp. (TSX:FGAA), OppFi
Inc. (NYSE:OPFI), and Hagerty Inc. (NYSE:HGTY).
CONTACT:
Kyle Cerminara, Chief Executive
Officer
Kyle@fundamentalglobal.com
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SOURCE Fundamental Global
