By Devika Patel
Knoxville, Tenn., June 2 - Ladenburg Thalmann Financial Services Inc. said it negotiated a $14 million private placement of stock with agent Ladenburg Thalmann & Co. Inc.
The company will sell 14 million common shares at $1.00 per share.
Investors include entities controlled by Samuel Yin, chairman and chief executive officer of Ruentex Group.
Based in New York, Ladenburg is a retail and institutional securities brokerage, investment banking and asset management company.
| Issuer: | Ladenburg Thalmann Financial Services Inc.
|
| Issue: | Common stock
|
| Amount: | $14 million
|
| Shares: | 14 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Agent: | Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | June 2
|
| Stock symbol: | NYSE Amex: LTS
|
| Stock price: | $1.48 at close June 1
|
| Market capitalization: | $234 million
|
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