NEW YORK and BEVERLY HILLS, Calif., Nov. 7, 2016 /PRNewswire/ -- Kennedy Cabot Acquisition, LLC ("Kennedy Cabot Acquisition") today announced that it has amended and supplemented its tender offer (the "Offer") to purchase the shares of common stock of Siebert Financial Corp., a New York corporation (NASDAQ: SIEB) ("Siebert"), par value $0.01 per share (each, a "Share", and collectively, the "Shares"), that represent all of the issued and outstanding Shares other than the 19,310,000 Shares owned by the Estate of Muriel F. Siebert. The Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 6, 2016 (as amended by Amendment No. 1 and Amendment No. 2, and as it may be amended or supplemented from time to time, the "Offer to Purchase").
The amendment provides for an extension of the Offer to November 25, 2016 at 5:00 P.M, Eastern Time from November 7, 2016 at 5:00 P.M, Eastern Time. American Stock Transfer & Trust Company LLC, the depositary for the Offer, has indicated that as of 5:00 P.M, Eastern Time, at the end of November 4, 2016, approximately 22,088,972 Shares were issued and outstanding, and 671,508 Shares have been tendered into and not properly withdrawn from the Offer. About Kennedy Cabot Acquisition Kennedy Cabot Acquisition is a Nevada limited liability company. The principals of Kennedy Cabot Acquisition have substantial experience in the brokerage industry and are/were affiliates of StockCross Financial Services, Inc. ("StockCross"). StockCross is a broker-dealer member of FINRA with offices across the United States. Cautionary note regarding forward-looking statements This communication contains "forward-looking statements" (as defined in the Securities Litigation Reform Act of 1995) regarding, among other things, future events. Words such as "anticipate," "expect," "intend," "believe," and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. Forward-looking statements relating to the proposed transactions include, but are not limited to: statements about the benefits of the proposed transactions; Siebert's and Kennedy Cabot Acquisition's plans, objectives, expectations and intentions; the expected timing of completion of the proposed transactions; and other statements relating to the transactions that are not historical facts. Forward-looking statements are based on information currently available to Siebert and Kennedy Cabot Acquisition, as the case may be, and involve estimates, expectations and projections. Investors are cautioned that all such forward-looking statements are subject to risks and uncertainties, and important factors could cause actual events or results to differ materially from those indicated by such forward-looking statements. With respect to the proposed transactions between Siebert and Kennedy Cabot Acquisition, these risks and factors could include, but are not limited to: securing regulatory approval; the risk that a condition to closing may be delayed or may not be satisfied; the diversion of management time on transaction-related issues; changes in the general economic environment, or social or political conditions, that could affect the business of Siebert and its subsidiaries; and the potential impact of the announcement or consummation of the proposed transactions on relationships with customers, competitors, management and other employees.