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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 4:33 AM

Slide #308. Ladenburg Thalmann Financial Services Inc Preferred Stock Offering

Company: Ladenburg Thalmann Financial Services Inc (AMEX:LTS)
Date announced: 5/14/2013
Security type: Series A Cumulative Redeemable Preferred Stock (AMEX:LTS.PRA)
Shares Offered: 4,600,000
Date of Pricing: 5/21/2013
Price Per Share: $25
Preferred Stock Offering Details: Ladenburg Thalmann Financial Services Inc. announced that it is commencing an underwritten public offering of shares of its Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"). The Company intends to list the Series A Preferred Stock on the NYSE MKT under the symbol "LTS PrA." The Company intends to grant the underwriters a 30-day option to purchase additional shares of Series A Preferred Stock to cover over-allotments, if any. --updated 5/21 - Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS) (the "Company") announced today that it has priced an underwritten public offering of 4.6 million shares of its 8.00% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $115 million, before deducting the underwriting discount and estimated offering expenses. The offering was upsized from the previously disclosed offering size of 2 million shares. The offering is expected to close on or about May 24, 2013, subject to customary closing conditions. The Company intends to list the Series A Preferred Stock on the NYSE MKT under the symbol "LTS PrA." The Company has granted the underwriters a 30-day option to purchase up to 690,000 shares of Series A Preferred Stock to cover over-allotments, if any.

Ladenburg Thalmann Financial Services is a holding company. Through its subsidiaries, Co. is engaged in independent brokerage and advisory services, investment banking, investment research, institutional sales and trading, asset management services, wholesale life insurance brokerage and trust services. Co. has three segments: independent brokerage and advisory services business, which includes the broker-dealer and investment advisory services and the wealth management services; Ladenburg, which includes the investment banking, sales and trading and asset management services and investment activities; and insurance brokerage, which includes the wholesale insurance brokerage activities.

Preferred: LTS.PRA


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Name: Ladenburg Thalmann Financial Services Inc
Website: ladenburg.com
Sector: Investment Brokerages
Number of ETFs Holding LTS: 17 (see which ones)
Total Market Value Held by ETFs: $11,759,770
Total Market Capitalization: $619,000,000
% of Market Cap. Held by ETFs: 1.90%

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