Fundamental Global$(R)$ purchases additional shares of Ballantyne Strong Inc. (NYSE American:BTN)

PR Newswire

MOORESVILLE, N.C., July 14, 2022

   -- Continues to simplify its organizational structure 

MOORESVILLE, N.C., July 14, 2022 /PRNewswire/ -- Fundamental Global(R) , a private partnership focused on long-term strategic holdings, filed an amendment to its Schedule 13D today, to reflect the recent purchases of 80,000 shares of common stock of Ballantyne Strong, Inc. ("BTN"), which were previously reported in its Form 4 filings, and which can be viewed here. Following these transactions, Fundamental Global, its affiliates and certain related parties, including its Chairman Joseph H. Moglia, collectively hold approximately 30.8% of BTN's common stock.

In addition to the recent purchases of BTN, Fundamental Global highlighted several other events that change the way its ownership is reported, as follows:

   -- In December 2020, Fundamental Global divested its 50% ownership interest 
      in CWA Asset Management Group, LLC d/b/a Capital Wealth Advisors. Any 
      shares of BTN that were previously reported as being held in CWA client 
      accounts, have now been removed from Fundamental Global's filings going 
      forward. 
 
   -- In July 2021, Fundamental Global dissolved the FGI Global Asset 
      Allocation Fund Ltd, and in August 2021, Fundamental Global assigned 
      management authority for (i) the Fundamental Global Capital Appreciation 
      Fund LP, and (ii) the FGI Global Asset Allocation Master Fund LP, and the 
      CWA FGI Special Opportunities Fund LP, to EverStar Asset Management LLC 
      and to CW Institutional LLC, respectively. As a result, any shares of BTN 
      that were previously reported as being held by any of these entities, 
      have now been removed from Fundamental Global's filings going forward. 
 
   -- Also in August 2021, Fundamental Global Investors LLC assigned management 
      authority for its other entities to Fundamental Global GP LLC. As a 
      result, Fundamental Global Investors LLC has been removed from 
      Fundamental Global's filings going forward. 
 
   -- In December 2021, Fundamental Global Partners Master Fund LP contributed 
      all of its holdings to Fundamental Activist Fund I LP, and Fundamental 
      Global began the process of dissolving the master fund and its offshore 
      feeder. As a result, any shares of BTN that were previously reported as 
      being held by the master fund, are now reported as being held by 
      Fundamental Activist Fund I LP going forward. 

Fundamental Global CEO and Ballantyne Strong Chairman, D. Kyle Cerminara, commented, "We are pleased with our recent purchases of Ballantyne Strong, and consider it to be one of Fundamental Global's strategic long-term holdings. Furthermore, we are working diligently to eliminate unnecessary distractions that not only help simplify our organizational structure, but that also allow us to focus on our best opportunities."

Fundamental Global(R)

Fundamental Global(R) is a private partnership focused on long-term strategic holdings. Fundamental Global(R) 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), Ballantyne Strong Inc. (NYSE American:BTN), BK Technologies Corp (NYSE American:BKTI), GreenFirst Forest Products, Inc. (TSX:GFP), FG Merger Corp. (Nasdaq:FGMC), FG Acquisition Corp. (TSX:FGAA), OppFi Inc. $(OPFI)$, and Hagerty Inc. $(HGTY)$.

CONTACT:

Kyle Cerminara, Chief Executive Officer

Kyle@fundamentalglobal.com

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SOURCE Fundamental Global

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July 14, 2022 20:00 ET (00:00 GMT)