Fundamental Global Inc. (FGF) has priced a $200 million private placement through the sale of 40 million prefunded common stock warrants at $5.00 per warrant, with proceeds earmarked to purchase Ethereum as its primary treasury reserve asset. The transaction attracted strategic investors including Galaxy Digital (GLXY), Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic.
Galaxy Digital will serve as strategic advisor, managing the Ethereum treasury while providing asset management and infrastructure support. The company concurrently announced a rebrand to FG Nexus Inc., with new ticker symbols FGNX and FGNXP expected soon. The offering is scheduled to close around August 1, 2025.
Following the announcement, Fundamental Global shares surged 76.66% in premarket trading. CEO Maja Vujinovic emphasized, "This $200 million allocation demonstrates our conviction in blockchain technology as a cornerstone of future financial systems." Executive Advisor Joe Moglia, former TD Ameritrade CEO, added: "Ethereum is the foundation layer for the next generation of financial services."
The firm established FG CVR Trust to hold legacy non-core assets, granting shareholders of record as of August 8, 2025, non-transferable Contingent Value Rights. This move parallels historical institutional Ethereum allocations like BitMine's $2 billion and SharpLink Gaming's $840 million investments.