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Ladenburg starts $25 million at-the-market sale for 7% $25-par notes
New York, June 25 – Ladenburg Thalmann Financial Services Inc. launched a $25 million at-the-market sale program for its 7% $25-par senior notes due 2028, according to a 424B5 filing with the Securities and Exchange Commission.
Ladenburg Thalmann & Co. Inc. will be agent for the sales.
The issuer already has $41,412,375 of the notes outstanding from a $40 million offering priced on May 22 and partial exercise of the overallotment option on June 22.
The notes are callable at par starting on May 31, 2021.
Currently the notes trade on the NYSE American under the symbol “LTSF.” They closed at $24.60 on June 21.
Ladenburg said the notes are expected to trade flat.
Proceeds will be used for general corporate purposes.
Ladenburg is a Miami-based financial services company.
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