Fundamental Global closes $200 million private placement for Ethereum strategy By Investing.com

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Fundamental Global closes $200 million private placement for Ethereum strategy

Published Aug 05, 2025 13:04

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Fundamental Global closes $200 million private placement for Ethereum strategy

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Fundamental Global Inc. (FGF, FGFPP) completed a $200 million private placement through the sale of 40 million prefunded common stock warrants priced at $5.00 each, according to a company statement.

The offering attracted investments from Galaxy Digital (GLXY), Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic. The company plans to use proceeds to acquire Ethereum as its primary treasury reserve asset.

The company will rename itself FG Nexus Inc. and change its NASDAQ symbols to FGNX and FGNXP. Chief Executive Officer Kyle Cerminara stated the company targets acquiring a 10% stake in the Ethereum network.

On August 4, 2025, the company appointed Maja Vujinovic as CEO of Digital Assets, Theodore Rosenthal as President of Digital Assets, and Jose Vargas as Head of Business Development of Digital Assets. Vujinovic and Vargas were also appointed to the board of directors.

Vujinovic previously served as Chief Investment Officer of Emerging Technologies at General Electric and helped acquire the first bank for Tether. Rosenthal manages TMR Capital, which advises over $2 billion in family office capital. Vargas founded and exited five companies including AutoWeb and BlueKite.

The company's strategy includes staking Ethereum to generate yields and accessing tokenized real-world asset opportunities. Joe Moglia, former Chairman and CEO of TD Ameritrade, serves as Executive Advisor.

The securities were sold in a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The company entered into a registration rights agreement to file a registration statement with the Securities and Exchange Commission for resale of the shares.

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