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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Saturday, June 25, 5:59 AM
Slide #476. Ladenburg Thalmann Financial Services Inc — Preferred Stock Offering
| Company: |
Ladenburg Thalmann Financial Services Inc (LTS) |
| Date announced: |
5/14/2013 |
| Security type: |
Series A Cumulative Redeemable Preferred Stock (LTS.PRA) |
| Shares Offered: |
4,600,000 |
| Date of Pricing: |
5/21/2013 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
Ladenburg Thalmann Financial Services Inc. announced that it is commencing an underwritten public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"). The Company intends to list the Series A Preferred Stock on the NYSE MKT under the symbol "LTS PrA." The Company intends to grant the underwriters a 30-day option to purchase additional shares of Series A Preferred Stock to cover over-allotments, if any. --updated 5/21 - Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS) (the "Company") announced today that it has priced an underwritten public offering of 4.6 million shares of its 8.00% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $115 million, before deducting the underwriting discount and estimated offering expenses. The offering was upsized from the previously disclosed offering size of 2 million shares. The offering is expected to close on or about May 24, 2013, subject to customary closing conditions. The Company intends to list the Series A Preferred Stock on the NYSE MKT under the symbol "LTS PrA." The Company has granted the underwriters a 30-day option to purchase up to 690,000 shares of Series A Preferred Stock to cover over-allotments, if any. |
Ladenburg Thalmann Financial Services is a financial services company. Co. has three operating segments: the independent advisory and brokerage services, which includes the investment advisory and brokerage services provided by Co.'s independent advisory and brokerage subsidiaries to their independent contractor financial advisors and the wealth management services; the Ladenburg, which includes the investment banking, sales and trading and asset management services and investment activities; and the insurance brokerage, which includes the wholesale insurance brokerage activities provided by Co.'s subsidiaries, Highland Capital Brokerage, which delivers fixed and equity indexed annuities. Preferred: LTS.PRA
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Open the LTS.PRA Page at Preferred Stock Channel for More Information About this Preferred »
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