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National Holdings Corp Announces Definitive Merger Agreement With Gilman Ciocia, Inc.


Friday, 21 Jun 2013 07:00am EDT 

National Holdings Corp and Gilman Ciocia, Inc. announced that they have entered into a definitive merger agreement to create a diversified investment bank and independent broker-dealer with broad financial product and service offerings catering to retail and institutional clients. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Gilman Ciocia shareholders will receive up to 24.0 million shares of National Holdings common stock. Additionally, the consideration includes the assumption of up to $5.4 million in debt, which is expected to be repaid in full at the closing of the merger. Following the merger close, the combined company will offer a variety of financial products and services, including retail brokerage, corporate finance, sales and trading, asset management, financial planning, market making, tax preparation, insurance and annuities and research. 

Company Quote

0.52
0.0050 +0.97%
17 Apr 2014