Fundamental Global GP, LLC - Dec 12, 2022 Form 4 Insider Report for BALLANTYNE STRONG, INC. (FGH)

Role: 10%+ Owner
Signature: FUNDAMENTAL GLOBAL GP, LLC /S/ D. KYLE CERMINARA, CHIEF EXECUTIVE OFFICER
Stock symbol: FGH
Transactions as of: Dec 12, 2022
Transactions value $: $81,946
Form type: 4
Date filed: 12/14/2022, 03:17 PM
Previous filing: Dec 9, 2022
Next filing: Dec 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FGH	COMMON STOCK, PAR VALUE $0.01 PER SHARE	Purchase	$17.7K	+6.77K	+0.16%	$2.62	4.22M	Dec 12, 2022	BALLANTYNE STRONG HOLDINGS, LLC	F1, F2, F3, F4, F5
transaction	FGH	COMMON STOCK, PAR VALUE $0.01 PER SHARE	Purchase	$64.2K	+23.4K	+0.56%	$2.74	4.24M	Dec 13, 2022	BALLANTYNE STRONG HOLDINGS, LLC	F2, F3, F4, F5, F6
holding	FGH	COMMON STOCK, PAR VALUE $0.01 PER SHARE						854K	Dec 12, 2022	FUNDAMENTAL GLOBAL HOLDINGS, LP	F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $2.575 to $2.68, inclusive. The Reporting Persons undertake to provide to the Company, any security holder of the Company or the staff of the U.S. Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth above.
F2	Fundamental Activist Fund I, LP owns membership interests in Ballantyne Strong Holdings, LLC ("BTN Holdings") and may be deemed to be a beneficial owner of the shares of Common Stock that are directly owned by BTN Holdings.
F3	The funds managed by Fundamental Global GP, LLC ("FGGP") beneficially own in the aggregate 5,094,657 shares of Common Stock, which represent approximately 26.2% of the Company's outstanding shares of Common Stock. FGGP may be deemed to be a beneficial owner of the shares of Common Stock that are directly owned by BTN Holdings and Fundamental Global Holdings, LP ("FGHP").
F4	Due to their positions with FGGP and affiliated entities, Messrs. D. Kyle Cerminara and Joseph H. Moglia may be deemed to be beneficial owners of the shares of Common Stock disclosed as directly owned by BTN Holdings and FGHP. Each Reporting Person disclaims beneficial ownership of the shares referred to herein except to the extent of his or its pecuniary interest therein.
F5	Mr. Moglia holds 636,291 shares of Common Stock directly and through the Moglia Family Foundation and trusts. Mr. Cerminara also holds additional shares of Common Stock.
F6	The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $2.67 to $2.75, inclusive. The Reporting Persons undertake to provide to the Company, any security holder of the Company or the staff of the SEC, upon request, full information regarding the number of shares of Common Stock purchased at each separate price within the range set forth above.