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Fundamental Global Inc., formerly FG Financial Group, reports developments tied to its preferred stock, capital structure, operating results, and corporate repositioning. FGFPP has represented the company’s 8.00% Cumulative Preferred Stock, Series A, and recurring announcements include preferred-stock dividends, financing activity, governance updates, and financial results.
The company and its subsidiaries have engaged in reinsurance, asset management, merchant banking, and managed services. Recent news also covers its Ethereum treasury strategy, digital-asset business activity, registration-statement activity, private placement financing, and legacy asset restructuring.
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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.
FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) has declared a quarterly cash dividend of $0.50 per share on its 8.00% Cumulative Preferred Stock, Series A, for the period starting June 15, 2021, and ending September 14, 2021. This dividend will be payable on September 15, 2021, to holders of record as of September 1, 2021. The company continues to focus on collateralized and loss capped reinsurance while exploring investment opportunities in SPAC-related businesses.
FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) announced the retirement of Chief Financial Officer John S. Hill, effective August 6, with Hassan R. Baqar succeeding him. Baqar brings over 20 years of financial services experience, particularly in reinsurance and SPACs. Additionally, Brian Bottjer has been appointed Chief Accounting Officer. CEO Larry Swets expressed gratitude for Hill's contributions and confidence in the new leadership, highlighting Baqar's extensive expertise that is expected to benefit the firm’s growth and strategic initiatives.
FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) announced the completion of its business combination with OppFi through FG New America Acquisition Corp. (FGNA). The stockholders approved the deal on July 16, 2021, and it closed on July 20, 2021. OppFi now trades under the ticker symbols 'OPFI' and 'OPFI WS.' FG Financial holds 861,690 Class A shares and 358,419 warrants of OppFi. CEO Larry Swets expressed optimism about OppFi's growth and profitability, emphasizing opportunities for capital allocation to SPAC-related businesses.
FG Financial Group, Inc. (Nasdaq: FGF, FGFPP) announced a new reinsurance contract by its subsidiary, FG Reinsurance Ltd (FGRe), with a leading Insurtech firm specializing in automotive insurance. This marks FGRe's second contract since its launch in June 2020. The contract involves limiting maximum exposure through a loss cap, with pricing determined by an FCAS accredited actuary. CEO Tom Heise expressed confidence in meeting internal return targets, while CEO Larry Swets highlighted the contract's unique structure and strategic fit.
FG Financial Group, Inc. (NASDAQ: FGF, FGFPP) will be included in the Russell Microcap® Index after the annual reconstitution on June 28, 2021. This inclusion reflects the company's strategy focused on capital allocation in reinsurance and SPAC ventures, potentially increasing investor awareness and shareholder value. The Russell Microcap® Index is widely recognized among institutional investors, with approximately $10.6 trillion in assets benchmarked to Russell indexes, indicating significant market influence.