Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), today announced that it has completed its acquisition of Hudson Holding Corporation (OTCBB: HDHL). The merger furthers Rodman’s mission of building a full service investment bank for growth companies with expanded sales, trading and research capabilities. "I am pleased to announce the completion of our acquisition of Hudson," said Edward Rubin, Rodman’s CEO. "The close of this acquisition brings substantial diversification to Rodman's business platform through Hudson's sales and trading and represents a very significant milestone in the building of our franchise." "Over the past three months, professionals from both entities have been working diligently to prepare for the integration of our two firms under the Rodman brand. We expect to synergistically add Hudson’s established and broad-based sales and trading onto our platform right away and immediately expand Rodman’s research capabilities, expanding coverage to key sectors, including, transportation, gaming, leisure, wireless technology and industrials. Our clients are already seeing the benefits of how this acquisition can enhance the services we provide, and under our integration plan we believe that we will begin to realize the synergies and costs savings of the combined platform over the coming quarters." Today’s announcement follows Hudson stockholder approval of the transaction at the Special Meeting of Stockholders held earlier today and receipt of all required regulatory approvals. Each Hudson stockholder will receive approximately 0.0332 shares of Rodman common stock for each common share of Hudson held. The combined company will continue to operate under the Rodman name and trade on the NASDAQ GM under the symbol “RODM.” As of market close today, Hudson’s common shares ceased trading on the OTCBB. Rodman will remain headquartered in New York City with offices in Jersey City, Tinton Falls, Houston, Norwalk, Boston, Boca Raton, Cleveland, Chicago and Los Angeles. About Rodman & Renshaw Capital Group, Inc Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC and Hudson Securities, Inc.
Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of deal volume of PIPE and RD financing transactions completed every year since 2005.For more information visit Rodman & Renshaw on the Internet at www.rodm.com. MEMBER FINRA, SIPC Cautionary Note Regarding Forward Looking Statements This press release contains forward-looking statements regarding future events and financial performance. In some cases, you can identify these statements by words such as "may," "might," "will," "should," "except," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements. These factors include, but are not limited to, those discussed under the section entitled "Risk Factors" in our Annual Report on Form 10-K, filed March 15, 2011, which is available at the U.S. Securities and Exchange Commission website at www.sec.gov. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.