FG Nexus approved direct affordable-housing acquisitions and a $10 million Investment in FG Communities, representing approximately 10% of its outstanding common stock. For investors, the plan combines property purchases with an independently operated private-company stake, while a proposed name and ticker change awaits corporate filings and Nasdaq confirmation.

Key Highlights

  • FG Communities will continue operating as a separate, independently managed Business after the investment.
  • FG Nexus plans to adopt the name FG Communities Holdings and change its common-stock ticker to FGC.
  • A Special Committee made up solely of independent directors reviewed the proposed investment with an independent financial adviser.

Independent Review of Proposed Investment

FG Communities will continue operating as a separate, independently managed business after the investment. Certain FG Nexus (NASDAQ: FGNX) officers and directors, including Kyle Cerminara, hold significant Equity positions in FG Communities and serve as its officers and directors. Cerminara is FG Nexus’s Chairman and Chief Executive Officer and also serves as FG Communities’ President and Chairman. Until they become effective, the securities will continue trading under their current tickers.