MOORESVILLE, NC / ACCESSWIRE / August 10, 2021 / Fundamental Global®, a private partnership focused on long-term strategic holdings, announced the closing of its first SPAC transaction for FG New America Acquisition Corp (NYSE:FGNA) with OppFi Inc. (NYSE: OPFI), a leading financial technology platform that powers banks to help everyday consumers gain access to credit.
2. Finalizes Divestiture of 50% Ownership in CWA
MOORESVILLE, NC / ACCESSWIRE / August 10, 2021 /
Fundamental Global®, a private partnership focused on long-
term strategic holdings, announced the closing of its first SPAC
transaction for FG New America Acquisition Corp (NYSE:FGNA)
with OppFi Inc. (NYSE:OPFI), a leading financial technology
platform that powers banks to help everyday consumers gain
access to credit.
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Former Chairman and CEO of TD Ameritrade and
Fundamental Global® Chairman Joe Moglia said, "We
continue to be very impressed by the significant
growth the OppFi team has achieved.
We look forward to their
ongoing expansion as the company
builds out its data driven digital latform to reach
the millions of consumers who could from expanded
access to financial products."benefit
4. In addition to the closing of its first SPAC transaction,
Fundamental Global® announced plans to sharpen its focus on
special situation holdings. Its current special situation holdings
include FG Financial Group Inc. (Nasdaq:FGF)(Nasdaq:FGFPP),
OppFi Inc. (NYSE:OPFI) Ballantyne Strong Inc. (NYSE
American:BTN), GreenFirst Forest Products, Inc. (TSXV:GFP),
BK Technologies Corp (NYSE American:BKTI) and Aldel
Financial (NYSE:ADF).
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5. "I could not be more excited about the future of our holdings,
and I look forward to working with the managers of these
organizations to create long-term value for stakeholders,"
commented Former T. Rowe Price, Point72 and Tiger Cub
Portfolio Manager and Fundamental Global® CEO Kyle
Cerminara. "With our proven track record, I am confident that
special situations plays to our core strengths as we renew our
focus as a company."
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6. As part of this more targeted focus, Fundamental Global®
announced that is has fully divested of its 50% ownership
interest in CWA Asset Management Group, LLC d/b/a Capital
Wealth Advisors ("CWA"). Per the divestiture, Lewis Johnson
will remain with CWA.
"We are eliminating all unnecessary distractions so that we
can focus on our best opportunities in special situations,"
added Cerminara.
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7. 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), OppFi Inc.
(NYSE:OPFI) Ballantyne Strong Inc. (NYSE American:BTN),
GreenFirst Forest Products, Inc. (TSXV:GFP), BK Technologies
Corp (NYSE American:BKTI) and Aldel Financial (NYSE:ADF).
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Fundamental Global®