February 17, 2024
Combined Company to Benefit from Anticipated Significant Expense Savings, Improved Scale and Capital Efficiency Represents Over $110 Million in Combined Total Assets and $65 Million in Combined Annual Revenue
Charlotte, NC, Jan. 03, 2024 (GLOBE NEWSWIRE) – FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) (“FG Financial”) and FG Group Holdings Inc. (NYSE American: FGH) (“FG Group Holdings”) today announced 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.
With combined assets of over $110 million and combined annual revenue of over $65 million1, the merger is anticipated to create significantly enhanced public company scale and capital efficiency and is expected to result in over $3 million of expense savings in the first year following the closing of the transaction with the objective of additional savings beyond $3 million in the following 12-24 months post-closing.
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