Fundamental Global Inc. - FGFPP STOCK NEWS

Fundamental Global Inc. (Nasdaq: FGF, FGFPP) announced its first quarter 2024 financial results, reflecting the merger with FG Group Holdings. Revenue increased by $2.1 million, or 31.6%, to $8.6 million due to higher demand for Strong Entertainment's screen products. Total expenses rose by $3.9 million or 36.3%, leading to a net loss of $4.3 million, or ($0.26) per share. The company saw a notable increase in total assets to $110.3 million and stockholders’ equity to $66.4 million as of March 31, 2024. Dividends paid on the 8% Series A Preferred Stock totaled $0.4 million. Moving forward, the company aims to reduce costs and focus on scalable, high-ROIC businesses.

Fundamental Global Inc. announced the acquisition of Strong/MDI Screen Systems, Inc. by FG Acquisition Corp. at a $30 million valuation. The MDI Acquisition will benefit both companies by unlocking the value of the investment in MDI and providing access to the Canadian financial markets. FGAC will change its name to Saltire Holdings, upon closing of the deal.

Fundamental Global Inc. announced the sale of its Digital Ignition building and subsidiary for $6.5 million, with $1.3 million in cash. The sale will reduce annual operating costs by approximately $1 million and debt by $4.9 million. The move aligns with the company's strategic focus on highly scalable businesses, cost reduction, and profitability.

Fundamental Global Inc. (Nasdaq: FGF) reports continued growth in reinsurance and investment results leading to a net income in 2023. The company completed a merger with FG Group Holdings Inc., rebranding as Fundamental Global Inc. Key highlights include increased net reinsurance premiums earned and net investment income. The company paid dividends on its 8% Series A Preferred Stock and saw a rise in general and administrative expenses. Net income attributable to common shareholders improved significantly, with balance sheet highlights showing increased investment holdings and total shareholders' equity.

FG Financial Group, Inc. has been renamed to Fundamental Global Inc. after completing a merger with FG Group Holdings Inc. The new leadership and governance structure are in place, with the company operating in various business segments like FG Reinsurance, Ltd., Strong Global Entertainment, Inc., Merchant Banking and SPACs, and Asset Management. The merger was well-received by shareholders, and the company aims to focus on shareholder returns and streamline operations.

FG Financial Group, Inc. has declared a quarterly cash dividend of $0.50 per share on its 8.00% Cumulative Preferred Stock, Series A, for the period from December 15, 2021 to March 14, 2022.

The dividend is payable on March 15, 2022, to shareholders on record as of March 1, 2022. This announcement reflects the company’s focus on opportunistic reinsurance and investment management strategies.

FG Financial Group (Nasdaq: FGF, FGFPP) announced that its SPAC partner, Aldel Financial, has successfully merged with Hagerty, a well-known automotive insurance provider. The merger was approved by Aldel’s stockholders on December 1, 2021, and Hagerty began trading under the ticker HGTY on December 3, 2021. FG Financial holds approximately 533,000 common shares and 321,000 warrants of Hagerty, valued at $15 each. The company views this merger positively, anticipating growth in the automotive insurance market as Hagerty insures about 2 million vehicles globally.

FG Financial Group, Inc. (NASDAQ: FGF, FGFPP) announced a quarterly cash dividend of $0.50 per share on its 8.00% Cumulative Preferred Stock for the period from September 15, 2021 to December 14, 2021. The dividend is payable on December 15, 2021 to shareholders of record as of December 1, 2021. The company focuses on opportunistic reinsurance and investment management, alongside capital allocation in SPAC-related ventures.

FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) announced a business combination agreement between its SPAC partner Aldel Financial and Hagerty, an automotive insurance platform. Post-transaction, Aldel will be renamed Hagerty, Inc. and traded on the NYSE under ticker HGTY. FG Financial holds approximately 533,000 shares and 321,000 warrants of Aldel. CEO Larry Swets, Jr. expressed optimism regarding the merger, highlighting Hagerty's growth potential in the automotive market.