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RCS Capital Corporation Commences Initial Public Offering Of Class A Common Stock

NEW YORK, May 22, 2013 /PRNewswire/ -- RCS Capital Corporation, Inc. ("RCAP") announced today the launch of an initial public offering of 2,750,000 shares of its class A common stock.  The initial public offering price is expected to be between $19.00 and $21.00 per share.  This is a primary offering of shares of RCAP's class A common stock.  The underwriters have the option to purchase from RCAP up to an additional 412,500 shares of class A common stock, on the same terms and conditions, to cover over-allotments, if any.  RCAP has been approved to have its common stock listed on The New York Stock Exchange, subject to notice of issuance, under the NYSE ticker symbol "RCAP."  Prior to this offering, there has been no public market for RCAP's class A common stock.

(Logo: http://photos.prnewswire.com/prnh/20130522/NY19075LOGO)

JMP Securities and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), are serving as joint bookrunning managers.  Aegis Capital Corp., Maxim Group LLC, National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), and Realty Capital Securities, LLC are serving as co-lead managers, and Newbridge Securities Corporation and Northland Capital Markets are serving as co-managers.

RCAP intends to use the net proceeds of this offering (assuming no exercise of the over-allotment option) to expand its lines of business by funding internal growth and by acquiring complimentary businesses, as well as for general corporate needs.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  The offering of the class A common stock will be made only by means of a prospectus.  When available, a copy of the preliminary prospectus relating to this offering may be obtained from JMP Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, CA 94111, Attention: Equity Syndicate, by telephone at (415) 835-8900 or email at ccornell@jmpsecurities.com, or Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, 9th Floor, New York, New York 10022, by telephone at (800) 573-2541 or email at Syndicate@ladenburg.com.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy class A common stock of RCAP, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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