Fundamental Global Inc. filed SEC Form 8-K: Completion of Acquisition or Disposition of Assets
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| Item 1.01 | Entry into a Material Definitive Agreement. |
| The information provided in Item 2.01 is incorporated by reference. |
| Item 2.01 | Completion of Acquisition or Disposition of Assets. |
Sale by FG Reinsurance Holdings, LLC of the share capital of its FG RE Corporate Member Limited
On March 14, 2025, FG Reinsurance Holdings, LLC (“FGR”), an indirect wholly owned subsidiary of Fundamental Global Inc. (the “Company”), executed an agreement for its sale of the entire issued share capital of it’s subsidiary, FG RE Corporate Member Limited, a company incorporated and registered in England and Wales. In connection with this sale, the Company also intends to enter into agreements for the commutation of its Lloyds of London reinsurance treaties UHA 251 22, B1868HT2300259, and B1868HT2400259.
The total consideration expected to be received by FGR from the sale of the corporate member and commutations of the treaties is $5.6 million, comprised of $0.3 million for the purchase of the corporate member and $5.3 million funds held at Lloyds of London supporting the commuted treaties being replaced by the buyer. The Company expects to report an impairment of assets held for sale of approximately $2.1 million primarily representing non-cash write-off of deferred acquisition cost intangible assets.
Closing is subject to receiving customary approvals and consents.
(d) Exhibits.
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FUNDAMENTAL GLOBAL INC. | ||
| Date: March 20, 2025 | By: | /s/ Mark D. Roberson |
| Mark D. Roberson | ||
| Chief Financial Officer | ||