Proceeds fund pending acquisitions, credit facility and debt repayment
By Devika Patel
Knoxville, Tenn., June 10 – RCS Capital Corp. said it completed a $50 million private placement of stock with Luxor Capital Group, LP.
The company sold 2,469,136 class A common shares at $20.25 per share, which is a 2.02% premium to the closing share price of $19.85 on June 9.
Proceeds will be used for pending acquisitions, to repay debt, to meet the obligations of the company’s credit facilities and for general corporate purposes, including other acquisitions.
The retail investment firm is based in New York.
Issuer: | RCS Capital Corp.
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Issue: | Class A common stock
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Amount: | $50 million
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Shares: | 2,469,136
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Price: | $20.25
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Warrants: | No
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Investor: | Luxor Capital Group, LP
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Settlement date: | June 10
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Stock symbol: | NYSE: RCAP
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Stock price: | $19.85 at close June 9
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Market capitalization: | $19.73 million
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