This Amendment No. 17 to the Statement of Beneficial Ownership on Schedule 13D (this Amendment
No. 17) amends the Statement of Beneficial Ownership on Schedule 13D filed by the Reporting Persons on June 18, 2015 (as amended, the Schedule 13D or this Statement), with respect to the Common Stock, $0.001
par value per share, of FG Financial Group, Inc., a Delaware corporation (the Company). In addition, each of FAFI and FGIH ceased to be a beneficial owner of more than five percent of the shares of Common Stock, and this Amendment
No. 17 constitutes an exit filing for such Reporting Persons. Capitalized terms used but not defined in this Amendment No. 17 shall have the meanings set forth in the Schedule 13D. Except as amended and supplemented by this Amendment
No. 17, the Schedule 13D remains unchanged.
Item 2. Identity and Background.
This Statement is filed by (i) Mr. D. Kyle Cerminara, a U.S. citizen, (ii) Fundamental Global GP, LLC, a Delaware limited liability company
(FGGP), (iii) FG Financial Holdings, LLC, a Delaware limited liability company (FGFH), (iv) Ballantyne Strong, Inc., a Delaware corporation (BTN), (v) Fundamental Activist Fund I, LP, a Delaware
limited partnership (FAFI) and (vi) FGI 1347 Holdings, LP, a Delaware limited partnership (FGIH).
The principal business of
FGGP is to provide investment advisory and management services to private investment funds, including to FAFI and FGIH. The principal business of each of FAFI and FGIH is serving as a private investment fund. BTN is a holding company with diverse
business activities focused on serving the entertainment, retail, financial, advertising and government markets. Mr. Cerminaras principal occupation is serving as the Chief Executive Officer of Fundamental Global, LLC, a Delaware limited
liability company, whose principal business is to be a private partnership focused on long-term strategic holdings, including its privately held subsidiaries and affiliates. Mr. Cerminara is a U.S. citizen. The principal business of FGFH is to
purchase, hold and/or sell shares of the Company. The managers of FGFH are Messrs. Cerminara and Ryan R. K. Turner. Mr. Turner is a U.S. citizen, and his principal occupation is serving as managing director of Fundamental Global, LLC.
Fundamental Activist Fund I GP, LLC, a Florida limited liability company (FAFI GP), is the general partner of FAFI, which is FAFI GPs
principal business. FGI 1347 GP, LLC, a Florida limited liability company (FGIH GP), is the general partner of FGIH, which is FGIH GPs principal business. FGGP is the general partner of FGFH.
Mr. D. Kyle Cerminara is the Chief Executive Officer and sole manager of FGGP, the sole manager of FAFI GP and FGIH GP, the Chairman of the Board of
Directors of BTN and the Company and a manager of FGFH. Ryan R. K. Turner is also a manager of FGFH. Each of BTN, FAFI and FGIH became a member of FGFH upon its respective contribution of shares of the Company to FGFH.
The business address of each of FGGP, FAFI, FGIH, FGFH, Messrs. Cerminara and Turner, FAFI GP, FGIH GP and Fundamental Global, LLC is 108 Gateway Blvd., Suite
204, Mooresville, NC 28117. The address of BTNs principal office is 5960 Fairview Road, Suite 275, Charlotte, NC 28210.
Each of FGGP, FAFI, FGIH,
FGFH, BTN and Mr. Cerminara is referred to herein as a Reporting Person and collectively as the Reporting Persons. The Reporting Persons are filing this Statement jointly. Neither the fact of this filing nor anything
contained herein shall be deemed to be an admission by any of the Reporting Persons that they constitute a group.
Information regarding the
identity and background of the partners, managers, officers, directors or other controlling persons, of the Reporting Persons, as applicable, is set forth in this Item 2, or in regards to BTN, on Schedule A to this Statement. Each of the individuals
identified on Schedule A to this Statement is a U.S. citizen.
None of the Reporting Persons nor, to the Reporting Persons knowledge, any of their
partners, managers, officers, directors or other controlling persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).