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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Monday, May 25, 3:20 PM

Slide #3. Cowen Group, Inc. Preferred Stock Offering

Company: Cowen Group, Inc. (NASDAQ:COWN)
Date announced: 5/13/2015
Shares Offered: 105,000
Date of Pricing: 5/14/2015
Price Per Share: $1,000
Preferred Stock Offering Details: Cowen Group, Inc. (NASDAQ:COWN) ("Cowen" or the "Company") today announced that it intends to offer, subject to market and other conditions, 105,000 shares of its Series A Cumulative Perpetual Convertible Preferred Stock (the "Convertible Preferred Stock") in a private offering to eligible purchasers. The Company would also grant the initial purchasers of the Convertible Preferred Stock an option to purchase up to an additional 15,750 shares of Convertible Preferred Stock on the same terms and conditions. Holders may convert the Convertible Preferred Stock at any time into cash, shares of the Company's Class A common stock or a combination thereof, at the Company's election, in each case, based on a specified conversion rate. At any time on or after May 20, 2020, the Company may elect to cause all outstanding shares of the Convertible Preferred Stock to be automatically converted into shares of the Company's Class A common stock, cash or a combination thereof, at the Company's election, in each case, based on the specified conversion rate, if the last reported sale price of the Company's Class A common stock equals or exceeds 150% of the then-current conversion price on at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days (including on the last trading day of such period) immediately prior to such election. Final terms of the Convertible Preferred Stock, including the dividend rate, conversion rate, offering price and other terms, will be determined at the time of pricing based on negotiations with the initial purchasers. - updated 5/14 - Cowen Group, Inc. (NASDAQ:COWN) ("Cowen" or the "Company") today announced the pricing of its offering of 105,000 shares of its 5.625% Series A Cumulative Perpetual Convertible Preferred Stock (the "Convertible Preferred Stock") in a private offering to eligible purchasers. The Convertible Preferred Stock is being offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company has also granted the initial purchasers of the Convertible Preferred Stock an option to purchase up to an additional 15,750 shares of Convertible Preferred Stock on the same terms and conditions. The offering is expected to close on May 19, 2015, subject to customary closing conditions.

Cowen Group is a holding company. Through its subsidiaries, Co. provides alternative investment management products and services such as hedge funds, replication products, mutual funds, managed futures funds, fund of funds, real estate, and healthcare royalty funds provided primarily under the Ramius LLC. Co.'s institutional investors include pension funds, insurance companies, banks, and foundations and endowments. Co. also provides broker-dealer businesses, which include research, brokerage and investment banking services to companies and institutional investor clients. Co. provides research and brokerage services to clients seeking to trade securities, principally in its target sectors.
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Name:  Cowen Group Inc
Website:  www.cowen.com
Sector:  Investment Brokerages
Number of ETFs Holding COWN:  19 (see which ones)
Total Market Value Held by ETFs:  $27,558,916
Total Market Capitalization:  $636,000,000
% of Market Cap. Held by ETFs:  4.33%
 

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