RCS Capital sells $37.5 million of convertible preferreds in placement

Series D-1, series D-2 convertible preferreds sold to Apollo and Luxor

By Devika Patel

Knoxville, Tenn., Aug. 20 – RCS Capital Corp. said it settled a $25 million private placement of its series D-1 convertible preferred units with Apollo Global Management, LLC and a $12.5 million private placement of its series D-2 convertible preferred units with Luxor Capital Group.

Proceeds will be used for general corporate purposes, including additional liquidity and working capital.

The investment firm is based in New York.

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