Fundamental Global Inc. Announces $6.5M Sale of Digital Ignition
Fundamental Global Inc. (FGF)
Company Research
Source: GlobeNewswire
Advancing Strategic Focus and Strengthening Financial Position Mooresville, NC, April 22, 2024 (GLOBE NEWSWIRE) -- Fundamental Global Inc. (Nasdaq: FGF, FGFPP) (the “Company” or “Fundamental Global”) today announced the sale of its Digital Ignition building and wholly owned subsidiary for $6.5 million. Fundamental Global will receive approximately $1.3 million in cash, net of closing costs and repayment of debt. In addition, the Company expects annual operating costs to be reduced by approximately $1 million as a result of the sale. This sale aligns with Fundamental Global’s key strategic objectives: Simplifies operationsIncreases focus on a few highly scalable and high ROIC businessesReduces annual operating costs by approximately $1 million Reduces debt by approximately $4.9 millionIncreases cash that can be re-deployed into higher returning businesses Kyle Cerminara, Chairman and CEO of Fundamental Global, commented, “We are committed to reducing expenses and increasing scal
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Analyst Actions
- 2/2/24 - TheStreet
FGF
Sec Filings
- 4/17/24 - Form 4
- 4/3/24 - Form 8-K
- 4/2/24 - Form 4
- FGF's page on the SEC website