FG Financial Group And FG Group To Merge

(RTTNews) - FG Financial Group Inc. (FGF, FGFPP) and FG Group Holdings Inc. (FGH) said that they have signed a definitive plan of merger to combine the companies in an all-stock transaction. Upon completion of the merger, the combined company will be renamed to Fundamental Global Inc. and the common stock and Series A cumulative preferred stock of the combined company will continue to trade on the Nasdaq under the tickers "FGF" and "FGFPP," respectively.

As per the terms of the deal, FG Group Holdings common stockholders will receive one share of FG Financial common stock for each share of common stock of FG Group Holdings held by such stockholder.

It is anticipated that legacy stockholders of FG Group Holdings will own 72% of the outstanding shares of Fundamental Global Inc. common stock and legacy FG Financial common stockholders will own 28% of the outstanding.

Kyle Cerminara, Chairman of the Board of FG Financial and FG Group Holdings, will be Chief Executive Officer of the combined company at closing.