- Continues to simplify its organizational structure
MOORESVILLE, N.C., July 14,
2022 /PRNewswire/ -- Fundamental Global®,
a private partnership focused on long-term strategic holdings,
filed an amendment to its Schedule 13D today, to reflect the recent
purchases of 80,000 shares of common stock of Ballantyne Strong, Inc. ("BTN"), which were
previously reported in its Form 4 filings, and which can be viewed
here. Following these transactions, Fundamental Global, its
affiliates and certain related parties, including its Chairman
Joseph H. Moglia, collectively hold
approximately 30.8% of BTN's common stock.
In addition to the recent purchases of BTN, Fundamental Global
highlighted several other events that change the way its ownership
is reported, as follows:
- In December 2020, Fundamental
Global divested its 50% ownership interest in CWA Asset Management
Group, LLC d/b/a Capital Wealth Advisors. Any shares of BTN that
were previously reported as being held in CWA client accounts, have
now been removed from Fundamental Global's filings going
forward.
- In July 2021, Fundamental Global
dissolved the FGI Global Asset Allocation Fund Ltd, and in
August 2021, Fundamental Global
assigned management authority for (i) the Fundamental Global
Capital Appreciation Fund LP, and (ii) the FGI Global Asset
Allocation Master Fund LP, and the CWA FGI Special Opportunities
Fund LP, to EverStar Asset Management LLC and to CW Institutional
LLC, respectively. As a result, any shares of BTN that were
previously reported as being held by any of these entities, have
now been removed from Fundamental Global's filings going
forward.
- Also in August 2021, Fundamental
Global Investors LLC assigned management authority for its other
entities to Fundamental Global GP LLC. As a result, Fundamental
Global Investors LLC has been removed from Fundamental Global's
filings going forward.
- In December 2021, Fundamental
Global Partners Master Fund LP contributed all of its holdings to
Fundamental Activist Fund I LP, and Fundamental Global began the
process of dissolving the master fund and its offshore feeder. As a
result, any shares of BTN that were previously reported as being
held by the master fund, are now reported as being held by
Fundamental Activist Fund I LP going forward.
Fundamental Global CEO and Ballantyne
Strong Chairman, D. Kyle
Cerminara, commented, "We are pleased with our recent
purchases of Ballantyne Strong, and
consider it to be one of Fundamental Global's strategic long-term
holdings. Furthermore, we are working diligently to eliminate
unnecessary distractions that not only help simplify our
organizational structure, but that also allow us to focus on our
best opportunities."
Fundamental
Global®
Fundamental Global® is a private partnership focused
on long-term strategic holdings. Fundamental Global® was
co-founded by former T. Rowe Price,
Point72 and Tiger Cub portfolio manager Kyle Cerminara and former Chairman and CEO of TD
Ameritrade, Joe Moglia. Its current
holdings include FG Financial Group Inc. (Nasdaq:FGF,FGFPP),
Ballantyne Strong Inc. (NYSE American:BTN), BK Technologies Corp
(NYSE American:BKTI), GreenFirst Forest Products, Inc. (TSX:GFP),
FG Merger Corp. (Nasdaq:FGMC), FG Acquisition Corp. (TSX:FGAA),
OppFi Inc. (NYSE:OPFI), and Hagerty Inc. (NYSE:HGTY).
CONTACT:
Kyle
Cerminara, Chief Executive Officer
Kyle@fundamentalglobal.com
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SOURCE Fundamental Global