PHILADELPHIA and NEW YORK, May 10, 2013 (GLOBE NEWSWIRE) -- Institutional Financial Markets, Inc. (NYSE MKT:IFMI) ("IFMI"), a financial services firm specializing in credit-related fixed income investments, today announced that it has entered into definitive agreements with Mead Park Capital Partners LLC ("Mead Park Capital") and Cohen Bros. Financial, LLC ("Cohen Bros. Financial"), pursuant to which each will make investments in the Company, totaling $13.7 million in the aggregate. Mead Park Capital is a vehicle advised by Mead Park Advisors LLC, a registered investment adviser and a subsidiary of Mead Park Holdings LP ("Mead Park"), and controlled by Jack J. DiMaio, CEO and founder of Mead Park, and Christopher Ricciardi, a partner in Mead Park and former President of IFMI. Cohen Bros. Financial is a limited liability company that is wholly-owned by Daniel G. Cohen, IFMI's Chairman and Chief Executive Officer. The investment and related actions were unanimously approved by the Company's Board of Directors (with Mr. Cohen abstaining) following the recommendation of the Board's Special Committee, which is comprised of three independent directors. The resulting share issuance is subject to stockholder approval and customary closing conditions. Mr. Cohen, Mr. Ricciardi, each member of the Company's Board of Directors and certain members of management, representing approximately 52% of the shares eligible to vote, have signed voting agreements in support of the transaction.
IFMI Announces $13.7 Million Strategic Investment By Mead Park Capital Partners LLC And Cohen Bros. Financial, LLC
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