Fundamental Global Inc., under the leadership of CEO Kyle Cerminara, announced the acquisition of Strong/MDI Screen Systems, Inc. by its majority-owned subsidiary, FG Acquisition Corp (FGAC), at a valuation of $30 million. The transaction is set to revolutionize FGAC as it rebrands to Saltire Holdings Ltd, following the acquisition’s closure. Strong/MDI, known for providing premium large format projection screens, will offer Saltire enhanced access to Canadian financial markets, supporting the management’s growth aspirations. The deal sees Fundamental Global and Strong Global Entertainment unlock substantial investment value, with payment comprising a mix of cash, preferred shares, and common shares of FGAC, based on an intricate formula detailed in the acquisition agreement. Public filings further outline the deal’s structure. Fundamental Global engages in various enterprises, including reinsurance and asset management, while Strong Global contributes to the entertainment industry by supplying critical products and services for over 90 years. FGAC, now transitioning to Saltire, is a special purpose acquisition company with a diverse future investment mandate. The acquisition aims to provide retail investors access to significant investments often reserved for larger entities while maintaining market liquidity. This announcement includes forward-looking statements projecting the benefits of the acquisition, cautioning investors about the potential risks inherent in such business ventures.

Entertainment and Films, Financial Services,Canada, United States

https://mergersacquisitions.einnews.com/pr_news/709345382/fundamental-global-inc-announces-acquisition-of-strong-mdi-screen-systems-inc-by-fg-acquisition-corp-at-a-30-million-valuation?ref=rss&ecode=Q1vNcweEggLWKz7L&utm_source=RSSNews&utm_medium=rss&utm_campaign=Mergers+%26+Acquisitions+News&utm_content=article