This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Institutional Financial Markets, Inc. Announces Results Of The Exchange Offer For Its Outstanding 7.625% Contingent Convertible Senior Notes Due 2027

Institutional Financial Markets, Inc. (NYSE AMEX: IFMI) (“IFMI”), a leading financial services company specializing in credit-related fixed income investments, today announced the final results of its offer to exchange for new securities (the “Exchange Offer”), at the election of each holder, any and all of its outstanding 7.625% Contingent Convertible Senior Notes due 2027 (the “Old Notes”). At the commencement of the Exchange Offer, IFMI had $19,506,000 principal amount of the Old Notes outstanding. The Exchange Offer for the Old Notes expired at 5:00 p.m., New York City time, on July 19, 2011.

IFMI has been advised by Global Bondholder Services Corporation, the exchange agent and information agent for the Exchange Offer, that, at the expiration of the Exchange Offer, $7,621,000 aggregate principal amount of the Old Notes had been tendered for exchange, representing approximately 39% of the principal amount of the Old Notes outstanding. The consideration for the Exchange Offer will be delivered promptly by the exchange agent and information agent.

In accordance with the terms of the Exchange Offer, IFMI will issue $7,621,000 aggregate principal amount of a new series of 10.50% Contingent Convertible Senior Notes due 2027 in exchange for the $7,621,000 aggregate principal amount of the Old Notes that were tendered. IFMI will also pay in cash all accrued and unpaid interest on the Old Notes tendered and accepted in the Exchange Offer to, but not including, the settlement date, which is expected to be Friday, July 22, 2011.

A total of $11,885,000 principal amount of Old Notes will remain outstanding after completion of the Exchange Offer.

Additional information regarding the Exchange Offer may be obtained from the exchange agent and information agent at the address set forth below:

Global Bondholder Services Corporation65 Broadway – Suite 404New York, New York 10006Attention: Corporate ActionsBanks and Brokers call: (212) 430-3774Toll Free: (866) 470-3800

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs