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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 7:27 AM

Slide #166. Cowen Group, Inc. Preferred Stock Offering

Company: Cowen Group, Inc. (NASDAQ:COWN)
Date announced: 5/13/2015
Shares Offered: 105,000
Date of Pricing: 5/14/2015
Price Per Share: $1,000
Preferred Stock Offering Details: Cowen Group, Inc. (NASDAQ:COWN) ("Cowen" or the "Company") today announced that it intends to offer, subject to market and other conditions, 105,000 shares of its Series A Cumulative Perpetual Convertible Preferred Stock (the "Convertible Preferred Stock") in a private offering to eligible purchasers. The Company would also grant the initial purchasers of the Convertible Preferred Stock an option to purchase up to an additional 15,750 shares of Convertible Preferred Stock on the same terms and conditions. Holders may convert the Convertible Preferred Stock at any time into cash, shares of the Company's Class A common stock or a combination thereof, at the Company's election, in each case, based on a specified conversion rate. At any time on or after May 20, 2020, the Company may elect to cause all outstanding shares of the Convertible Preferred Stock to be automatically converted into shares of the Company's Class A common stock, cash or a combination thereof, at the Company's election, in each case, based on the specified conversion rate, if the last reported sale price of the Company's Class A common stock equals or exceeds 150% of the then-current conversion price on at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days (including on the last trading day of such period) immediately prior to such election. Final terms of the Convertible Preferred Stock, including the dividend rate, conversion rate, offering price and other terms, will be determined at the time of pricing based on negotiations with the initial purchasers. - updated 5/14 - Cowen Group, Inc. (NASDAQ:COWN) ("Cowen" or the "Company") today announced the pricing of its offering of 105,000 shares of its 5.625% Series A Cumulative Perpetual Convertible Preferred Stock (the "Convertible Preferred Stock") in a private offering to eligible purchasers. The Convertible Preferred Stock is being offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company has also granted the initial purchasers of the Convertible Preferred Stock an option to purchase up to an additional 15,750 shares of Convertible Preferred Stock on the same terms and conditions. The offering is expected to close on May 19, 2015, subject to customary closing conditions.

Cowen is a financial services firm. Co. provides alternative investment management, investment banking, research, sales and trading and prime brokerage through its two business segments: alternative investment, which includes private investment funds, managed accounts, commodity pools, real estate funds, private equity structures, registered investment companies and listed vehicles and also manages a significant portion of the Co.'s proprietary capital; broker-dealer, which provides industry focused investment banking for growth-oriented companies including advisory and global capital markets origination and domain knowledge-driven research platform for institutional investors.
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Name: Cowen Inc
Website: cowen.com
Sector: Investment Brokerages
Number of ETFs Holding COWN: 18 (see which ones)
Total Market Value Held by ETFs: $16,011,827
Total Market Capitalization: $421,000,000
% of Market Cap. Held by ETFs: 3.80%

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