Fundamental Global Targets Up to $5 Billion Raise with ETH Strategy

On August 8, Nasdaq-listed Fundamental Global (FGF) submitted an S-3 registration statement to the U.S. Securities and Exchange Commission, unveiling plans to issue securities in multiple tranches up to a total of $5 billion. The majority of the funds raised through the issuance of common stock will be allocated to purchasing Ethereum (ETH), with the remainder being used for working capital and general corporate purposes. On August 5, the company completed a $200 million private placement, issuing 40 million prefunded common stock warrants at $5 per share. Participants in the investment included global strategic and financial investors such as Galaxy Digital, Kraken, HiveMind Capital, and Digital Currency Group.