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RCS Capital Corp Announces Closing Of Initial Public Offering

Monday, 10 Jun 2013 09:43am EDT 

RCS Capital Corp announced that the closing of its previously announced Initial Public Offering of 2,500,000 shares of the Company's Class A common stock at $20.00 per share. The shares began trading on the NYSC on June 5, 2013 under the ticker symbol RCAP. The underwriters have the option to purchase from the Company up to an additional 375,000 shares of Class A common stock, on the same terms and conditions, for the purpose of covering over-allotments, if any, exercisable by the underwriters during a 45-day period ending on July 20, 2013. RCAP intends to use the net proceeds from its initial public offering to expand its lines of business, which consist of its wholesale broker-dealer, its investment banking and capital markets business, its transaction management service provider and its transfer agency business, as well as for general corporate purposes. JMP Securities LLC and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. are acting as Joint Book-Running Managers for the offering, National Securities Corporation, a wholly owned subsidiary of National Holdings Inc. is acting as Senior Lead Manager, and Aegis Capital Corporation J.P. Turner & Company, LLC, Maxim Group LLC Newbridge Securities Corp., Northland Capital Markets, and Realty Capital Securities LLC, a subsidiary of the Company, are acting as Lead Managers. 

Company Quote

1.05 +10.55%
19 Dec 2014