RCS Capital announces proposed public offering of Class A common
stock
29/05/2014 14:35
RCS Capital Corporation (RCAP) announced that, subject to market and other conditions, RCAP is proposing to offer and sell 15,000,000 shares of RCAP Class A common stock and RCAP Holdings, LLC, the controlling stockholder of RCAP, is proposing to offer and sell 5,000,000 shares of RCAP Class A common stock in an underwritten public offering. RCAP also intends to grant the underwriters of the proposed offering a 30-day option to purchase up to an additional 3,000,000 shares to cover over-allotments, if any. RCAP intends to use the net proceeds from the proposed public offering: (i) to fund cash consideration and other costs required to complete certain pending acquisitions; (ii) to meet certain repayment and funding obligations under RCAP's existing credit facilities not related to repayment of principal outstanding under such credit facilities; (iii) to pay fees payable in connection with certain private offerings; (iv) to pay outstanding indebtedness in connection with a pending acquisition; and (v) for general corporate purposes, including other acquisitions. BofA Merrill Lynch, Barclays, Citigroup, JMP Securities and J.P.Morgan are acting as joint bookrunners for the offering. Ladenburg Thalmann & Co. Inc., BMO Capital Markets, RCS Capital, Aegis Capital Corp., Baird, J.P. Turner & Company, LLC, Maxim Group LLC, Mitsubishi UFJ Securities, National Securities Corporation, Newbridge Securities Corporation, Northland Capital Markets, and RBS are acting as co-managers for the offering.
29/05/2014 14:35
RCS Capital Corporation (RCAP) announced that, subject to market and other conditions, RCAP is proposing to offer and sell 15,000,000 shares of RCAP Class A common stock and RCAP Holdings, LLC, the controlling stockholder of RCAP, is proposing to offer and sell 5,000,000 shares of RCAP Class A common stock in an underwritten public offering. RCAP also intends to grant the underwriters of the proposed offering a 30-day option to purchase up to an additional 3,000,000 shares to cover over-allotments, if any. RCAP intends to use the net proceeds from the proposed public offering: (i) to fund cash consideration and other costs required to complete certain pending acquisitions; (ii) to meet certain repayment and funding obligations under RCAP's existing credit facilities not related to repayment of principal outstanding under such credit facilities; (iii) to pay fees payable in connection with certain private offerings; (iv) to pay outstanding indebtedness in connection with a pending acquisition; and (v) for general corporate purposes, including other acquisitions. BofA Merrill Lynch, Barclays, Citigroup, JMP Securities and J.P.Morgan are acting as joint bookrunners for the offering. Ladenburg Thalmann & Co. Inc., BMO Capital Markets, RCS Capital, Aegis Capital Corp., Baird, J.P. Turner & Company, LLC, Maxim Group LLC, Mitsubishi UFJ Securities, National Securities Corporation, Newbridge Securities Corporation, Northland Capital Markets, and RBS are acting as co-managers for the offering.
