NEW YORK, May 22, 2013 /PRNewswire/ -- RCS Capital Corporation, Inc. ("RCAP") announced today the launch of an initial public offering of 2,750,000 shares of its class A common stock. The initial public offering price is expected to be between $19.00 and $21.00 per share. This is a primary offering of shares of RCAP's class A common stock. The underwriters have the option to purchase from RCAP up to an additional 412,500 shares of class A common stock, on the same terms and conditions, to cover over-allotments, if any. RCAP has been approved to have its common stock listed on The New York Stock Exchange, subject to notice of issuance, under the NYSE ticker symbol "RCAP." Prior to this offering, there has been no public market for RCAP's class A common stock.
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JMP Securities and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), are serving as joint bookrunning managers. Aegis Capital Corp., Maxim Group LLC, National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), and Realty Capital Securities, LLC are serving as co-lead managers, and Newbridge Securities Corporation and Northland Capital Markets are serving as co-managers.
RCAP intends to use the net proceeds of this offering (assuming no exercise of the over-allotment option) to expand its lines of business by funding internal growth and by acquiring complimentary businesses, as well as for general corporate needs.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering of the class A common stock will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to this offering may be obtained from JMP Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, CA 94111, Attention: Equity Syndicate, by telephone at (415) 835-8900 or email at [email protected], or Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, 9th Floor, New York, New York 10022, by telephone at (800) 573-2541 or email at [email protected].
This news release shall not constitute an offer to sell or a solicitation of an offer to buy class A common stock of RCAP, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Important Notice
RCAP is a holding company recently formed to operate and grow businesses focused on the retail direct investment industry. Upon completion of the initial stock offering, RCAP will hold a direct economic interest in Realty Capital Securities, LLC, a FINRA registered wholesale broker-dealer and an investment banking and capital markets business, American National Stock Transfer, LLC, an SEC registered transfer agent, and RCS Advisory Services, LLC, a transaction management services business.
The statement in this press release include statements regarding the intent, belief or current expectations of RCAP and members of our management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements, including those set forth in the Risk Factors section of the registration statement and preliminary prospectus described above. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.
SOURCE RCS Capital Corporation, Inc.
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