Strong Global Entertainment Announces Closing of Sale of Strong/MDI for Approximately $30 Million
Strong Global Entertainment, Inc. Class A Common Voting Shares (SGE)
Company Research
Source: GlobeNewswire
Mooresville, NC, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Strong Global Entertainment, Inc. (NYSE: SGE) (“Strong Global”) and Fundamental Global Inc. (Nasdaq: FGF, FGFPP) (“Fundamental Global”) are pleased to announce the closing of the previously announced sale of Strong/MDI Screen Systems, Inc. (“MDI”) from Strong Global to Saltire Holdings Ltd (“Saltire”). Mark Roberson, Chief Executive Officer of Strong Global, commented, “We are pleased to announce the closing of the sale of MDI. This is one element of our previously announced strategy to streamline operations, increase liquidity and drive shareholder value. We expect the transaction to result in a net pre-tax financial statement gain in excess of $25 million. At closing, Strong Global holds approximately 37% of the outstanding common shares of Saltire, and we look forward to participating in the Saltires’ long term growth strategy.” At closing, and after a working capital adjustment, Strong Global received total consideration
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News
- FG Acquisition Corp. Announces the Successful Completion of the Acquisition of Strong/MDI Screen Systems, Inc., approximately $4.3 million Private Placement and launch of Saltire Capital Ltd. [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates VAPO, SGE, RPHM, SQSP on Behalf of ShareholdersPR Newswire
- STRONG GLOBAL INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Strong Global Entertainment, Inc. - SGEBusiness Wire
SGE
Sec Filings
- 9/30/24 - Form 25-NSE
- 9/19/24 - Form 8-K
- SGE's page on the SEC website