Fundamental Global, a financial services company on Nasdaq, has recently submitted a $5 billion shelf registration statement to the U.S. Securities and Exchange Commission (SEC).
This move is part of its plan to significantly increase its investments in Ethereum (ETH). The company plans to change its name to FG Nexus and wants to become the biggest corporate owner of ETH, aiming for a significant 10% share in the Ethereum network.
If successful, Fundamental Global would become one of the big corporate holders of Ethereum, like BitMine, which has $3.5 billion in ETH, and SharpLink, with $2.2 billion. The recently submitted shelf registration stands out as one of the biggest in the digital asset treasury field.
The document has an “at-the-market” prospectus that lets the company sell up to $4 billion in common stock. This gives the company the ability to raise money slowly and take advantage of good market conditions.
The leftover capacity from the registration can be used to issue preferred stock, debt, or other kinds of securities. Kyle Cerminara, the CEO and Chairman of Fundamental Global, highlighted the importance of this filing.
He said it helps the company raise money and allows them to quickly take advantage of investment opportunities when they come up. He was confident that this plan would help them gather ETH and reach a 10% share in the Ethereum network.
