Merriman Curhan seals $10.2 million oversubscribed private placement

By Devika Patel

Knoxville, Tenn., Aug. 27 - Merriman Curhan Ford Group, Inc. announced that it raised $10.2 million in an oversubscribed private placement of convertible preferred stock.

Merriman Curhan Ford & Co. was the agent.

Key investors include officers and managing directors from the former investment bank C.E. Unterberg, Towbin and Ronald L. Chez, Inc. as well as some insiders and complete participation by the board of directors of Merriman Curhan Ford.

Proceeds will be used to reposition the firm for profitable growth and settle $43.5 million of previously disclosed civil legal claims that resulted from the "unethical conduct of a rogue retail broker" in 2008.

Merriman Curhan Ford is a San Francisco securities broker-dealer and investment bank and a subsidiary of MCF Corp.

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