FG Nexus Inc. (FGNX): M&A transaction — FG Nexus completes FG Reinsurance Division sale with $1M cash payment

FG Nexus Inc.

Devondale tendered $1.0M cash to FGRH on March 23, 2026, completing the sale of FG Reinsurance Division.
Devondale funded the $1.0M via a loan from Saltire Capital Ltd (TSX-listed), giving Saltire a promissory note and 40% of Devondale's Class A voting units.
Previously, at First Closing (Jan 2, 2025), FGRH received release of $3.3M collateral and 40% of Devondale units.

item 2.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FG Nexus Inc. completed a disposition involving Devondale Holdings, LLC for $1 million in cash (closed 2026-03-23).

Action: disposition
Counterparty: Devondale Holdings, LLC
Consideration: $1 million in cash
Closing: 2026-03-23

Exact text from the filing

Devondale tendered a cash payment of $1.0 million to FGRH to complete the sale of the FG Reinsurance Division.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FG Nexus Inc. completed a disposition involving Devondale Holdings, LLC for release of $3.3 million of collateral and 40% of the Class A voting units of Devondale (closed 2025-01-02).

Action: disposition
Counterparty: Devondale Holdings, LLC
Consideration: release of $3.3 million of collateral and 40% of the Class A voting units of Devondale
Closing: 2025-01-02

Exact text from the filing

the Company completed the sale of the equity of FG Re and FG Solutions to Devondale in exchange for (1) the release of $3.3 million of collateral that FGRH had posted in connection with certain reinsurance contracts of the FG Reinsurance Division; and (2) 40% of the Class A voting units of Devondale

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FG Nexus Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-012189

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