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RCS Capital Corporation Announces Closing Of Initial Public Offering

NEW YORK, June 10, 2013 /PRNewswire/ --  RCS Capital Corporation ("RCAP" or the "Company") announced today the closing of its previously announced initial public offering of 2,500,000 shares of the Company's Class A common stock at $20.00 per share.  The shares began trading on the New York Stock Exchange on June 5, 2013 under the ticker symbol "RCAP".


The underwriters have the option to purchase from the Company up to an additional 375,000 shares of Class A common stock, on the same terms and conditions, for the purpose of covering over-allotments, if any, exercisable by the underwriters during a 45-day period ending on July 20, 2013.

RCAP intends to use the net proceeds from its initial public offering to expand its lines of business, which consist of its wholesale broker-dealer, its investment banking and capital markets business, its transaction management service provider and its transfer agency business, as well as for general corporate purposes.

JMP Securities LLC and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), are acting as Joint Book-Running Managers for the offering, National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), is acting as Senior Lead Manager, and Aegis Capital Corporation, J.P. Turner & Company, LLC, Maxim Group LLC, Newbridge Securities Corp., Northland Capital Markets, and Realty Capital Securities, LLC, a subsidiary of the Company, are acting as Lead Managers. Northland Capital Markets is the trade name for certain equity capital markets and investment banking activities of Northland Securities, Inc., member of FINRA/SIPC.

The offering of these securities is being made only by means of a prospectus, copies of which may be obtained by contacting:
  • JMP Securities LLC, Attention: Prospectus Department, 600 Montgomery Street, 10 th Floor, San Francisco, CA 94111, telephone: (415) 835-8985; or
  • Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, Ninth Floor, New York, NY 10022, telephone: (212) 409-2000.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of Class A common stock 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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