October 23, 2018 Fundamental Global Investors, LLC 4201 Congress Street, Suite 140 Charlotte, North Carolina 28209 Attention: D. Kyle Cerminara Re: Agreement to buy Shares of Common Stock of BTN Dear Kyle:Fundamental Global Investors, LLC • November 1st, 2018 • Photographic equipment & supplies
This letter is being delivered in connection with the purchase from Steinberg Capital Management of Nevada, Inc., Howard A. Steinberg and Brandon Steinberg (“Sellers”) by Fundamental Global Investors, LLC (“Fundamental Global”) and/or one or more of its affiliated funds (together with Fundamental Global, “Purchaser”) of 986,747 shares of common stock (the “Referenced Securities”) of Ballantyne Strong Inc. (the “Company”), a Delaware corporation, for a purchase price of $4,107,334.39. The per share price for the Referenced Securities is $4.1625.
