Fundamental Global Submits Shelf Registration to SEC for Up to $5 Billion in Securities
Fundamental Global (stock code: FGF), a U.S. Ether finance company, has submitted a “shelf registration” to the U.S. Securities and Exchange Commission (SEC) allowing the company to issue up to $5 billion in securities over a period of time. This move could provide the company with the opportunity to significantly increase its holdings in Ether (ETH).
The S-3 form submission grants Fundamental Global the flexibility to issue various types of securities, including common stock, preferred stock, warrants, and debt instruments, either in a single offering or in multiple tranches. Although the company has not committed to raising the full amount of funds nor specified a precise timeline for fundraising, the prospectus mentions that the proceeds may be used for its recently announced Ethereum financial reserve strategy.
If Fundamental successfully raises $5 billion and uses the entire amount to purchase Ether, its scale will far exceed that of other publicly listed companies with Ether reserves, including BitMine, SharpLink Gaming, and Ether Machines.
Fundamental Global was originally a reinsurance and asset management holding company. In July of this year, the company initiated a $200 million private placement to kickstart its Ethereum financial strategy, which includes acquiring Ether, participating in staking, and engaging in decentralized finance (DeFi) activities to maximize the amount of Ether held per share.
Fundamental has announced this week that it has completed the $200 million private placement, with investors including Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic.
