Fundamental Global Inc., a Nasdaq-listed company, has filed a Form S-3 registration statement with the U.S. Securities and Exchange Commission (SEC), proposing a multi-tranche offering of securities totaling up to $5 billion. The company plans to use substantially all of the net proceeds from this offering of common stock to purchase Ethereum (ETH), with the remainder to be used for working capital needs, general corporate purposes, and operating expenses.

Earlier news, Fundamental Global announced that it had completed a $200 million private equity financing, with participation from Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group (DCG) and Kenetic.