Fundamental Global announces $200M private placement, ethereum treasury strategy

Fundamental Global (FGF) announced the pricing and signing of a private placement for the purchase and sale of 40M pre-funded common stock warrants for expected gross proceeds of $200M. Strategic and financial investors include Galaxy Digital (GLXY), Kraken, Hivemind Capital, and Digital Currency Group. The company intends to use the net proceeds to purchase ether (ETH), which will serve as its primary treasury reserve asset. The offering is expected to close on or about August 1.