⚡ Fundamental Global’s $5B Ethereum Move — Treasury Launch Approaching
Fundamental Global has filed an S-3 with the SEC to secure $5 billion for its Ethereum strategy.
The company will sell shares in stages to meet its treasury goal.
Recently, Fundamental Global raised $200 million to kick off its Ethereum reserve plan.
On Thursday, the Nasdaq-listed holding firm submitted an S-3 registration to build an Ethereum-focused (ETH) treasury through a $5 billion shelf offering. Most of the funds from the IPO will go toward purchasing ETH, with the remainder supporting commercial operations.
Shares will be issued gradually, allowing adjustments in size, pricing, and terms based on market conditions. According to the filing, an ATM sales agreement with ThinkEquity will be used to raise $4 billion.
“We may offer and sell up to $4,000,000,000 in common stock through ThinkEquity from time to time under the market offering agreement,” the document stated.
The company may choose to sell shares in separate phases depending on market conditions.
This filing follows a $200 million private placement made days earlier to establish its Ethereum treasury. Fundamental Global has also rebranded as FG Nexus Inc. and may change its NASDAQ ticker to FGNX and FGNXP.
CEO Kyle Cerminara revealed the goal is to have 10% of the company’s assets in Ethereum.
With this move, Fundamental Global joins SharpLink Gaming, BitMine, and Bit Digital in embracing Ethereum-focused treasuries.
SharpLink Gaming also announced a purchase agreement on Thursday with four institutional investors to raise $200 million via a $19.50 per share ATM offering for Ethereum acquisitions. The company had previously filed a $6 billion shelf offering in July, an increase from its earlier $1 billion SEC registration.
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