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Ballantyne Strong, Inc. (NYSE American: BTN) (“Ballantyne” or the “Company”), the current parent of Strong Global Entertainment, Inc. (“Strong Global Entertainment”) announced today that Strong Global Entertainment has publicly filed a registration statement on Form S-1 (file number: 333-264165) with the Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of its Class A Common Voting Shares (the “Offering”). The number of shares and price range for the proposed Offering have yet to be determined. The Offering is expected to take place after the SEC completes its review process, subject to market and other customary conditions. Strong Global Entertainment has applied to list its Class A Common Voting Shares on the NYSE American exchange under the ticker symbol “SGE”.

ThinkEquity will serve as sole book-running manager for the proposed Offering.

The proposed Offering will be made pursuant to a prospectus. Copies of the preliminary prospectus related to the Offering, when available, may be obtained on the SEC’s website, www.sec.gov, or from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at prospectus@think-equity.com.

A registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. Securities offered under the registration statement may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell, or a solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act or 1933, as amended.

About Ballantyne Strong, Inc.

Ballantyne Strong, Inc. (www.ballantynestrong.com) is a diversified holding company with operations and holdings across a broad range of industries. Ballantyne holds equity stakes in Firefly Systems, Inc., GreenFirst Forest Products Inc. (TSX: GFP), and FG Financial Group, Inc. (Nasdaq: FGF), as well as real estate through its Digital Ignition operating business.

Ballantyne’s Strong Entertainment segment, which will become the primary operating business of Strong Global Entertainment immediately prior to the consummation of the Offering, is the largest premium screen supplier in North America, and provides technical support services and related products and services to the cinema exhibition industry. Ballantyne’s Strong Entertainment segment manufactures and distributes premium large format projection screens, provides comprehensive managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues. In addition to traditional projection screens, it manufactures and distributes its Eclipse curvilinear screens, which are specially designed for theme parks, immersive exhibitions, as well as simulation applications. It also provides maintenance, repair, installation, network support services and other services to cinema operators, primarily in the United States. Ballantyne also recently launched Strong Studios, Inc. as part of the Strong Entertainment segment, which develops and produces original feature films and television series. Forward-Looking Statements

This press release may contain “forward-looking statements.” All statements, other than statements of historical facts, are forward-looking statements. Ballantyne may, in some cases, use words such as “project,” “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “should,” “would,” “could,” “potentially,” “will” or “may”, or other words that convey uncertainty of future events or outcomes, to identify these forward-looking statements. Such forward-looking statements are based on management’s current expectations, but actual results may differ materially due to various factors. There can be no guarantees that the initial public offering of Strong Global Entertainment, Inc. will be consummated on the timeline anticipated or at all, or that Ballantyne or Strong Global Entertainment will achieve the anticipated benefits of such a transaction. Ballantyne’s and Strong Global Entertainment’s ability to consummate and achieve the anticipated benefits of the potential initial public offering of Strong Global Entertainment may be materially affected by certain factors outside their control that could affect the advisability, pricing and timing of the potential initial public offering of Strong Global Entertainment, as well as a number of risks and uncertainties regarding the business, results of operation or financial condition of Ballantyne or Strong Global Entertainment, including but not limited to those discussed in the “Risk Factors” sections contained in the registration statement, prospectus and prospectus supplements related to the Offering, Item 1A in Ballantyne’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 24, 2022, and subsequent filings with the SEC, in addition to and including the following risks and uncertainties: the negative impact that the COVID-19 pandemic has already had, and may continue to have, on the Company’s business and financial condition; the general economic impact of the ongoing military conflict in Ukraine, including the impact of related sanctions being imposed by the U.S. Government and the governments of other countries, and the impact of potential reprisals as a consequence of the military conflict in Ukraine and any related sanctions; the Company’s ability to maintain and expand its revenue streams to compensate for the lower demand for the Company’s digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to successfully execute its capital allocation strategy or achieve the returns it expects from these holdings; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; challenges associated with the Company’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets (such as the current economic disruption and market volatility generated by the ongoing COVID-19 pandemic and ongoing military conflict in Ukraine and related sanctions); economic and political risks of selling products in foreign countries (including tariffs); risks of non-compliance with U.S. and foreign laws and regulations, potential sales tax collections and claims for uncollected amounts; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; the impact of the COVID-19 pandemic on the Company’s portfolio companies; the Company’s ability to utilize or assert its intellectual property rights, the impact of natural disasters and other catastrophic events (such as the ongoing COVID-19 pandemic and ongoing military conflict in Ukraine and related sanctions); the adequacy of insurance; the impact of having a controlling stockholder and vulnerability to fluctuation in the Company’s stock price. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the ongoing COVID-19 pandemic, its impact on the cinema and entertainment industry, the ongoing military conflict in Ukraine and related sanctions, and the worsening economic environment. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, we undertake no obligation to publicly update, withdraw, or revise any forward-looking statements to reflect actual results or changes in factors or assumptions on which any statement is based.

For Investor Relations Inquiries:

Mark Roberson	John Nesbett / Jennifer Belodeau
Ballantyne Strong, Inc. - Chief Executive Officer	IMS Investor Relations
704-994-8279	203-972-9200
IR@btn-inc.com	jnesbett@institutionalms.com