JMP Group Announces Self-Tender Offer
13 Mai 2019 - 10:45PM
Business Wire
JMP Group LLC (NYSE: JMP), an investment banking and alternative
asset management firm, today announced its plan to launch a tender
offer to purchase up to 3,000,000 shares representing limited
liability company interests in JMP Group (the “Shares”) at a
purchase price per Share of $3.95. On May 13, 2019, the closing
price of the Shares was $3.72 per Share. The offer to purchase the
Shares is expected to commence on Thursday, May 16, 2019, and is
expected to expire at 11:59 p.m. New York City time on June 13,
2019, unless extended. The offer will not be conditioned on any
minimum number of Shares being tendered.
If the tender offer is fully subscribed, JMP Group will have
purchased approximately 14.1% percent of its outstanding Shares as
of March 31, 2019.
While JMP Group’s board of directors has authorized the company
to make the tender offer, neither JMP Group nor its board of
directors makes any recommendation to any shareholder as to whether
to tender or refrain from tendering any Shares. JMP Group has not
authorized any person to make any such recommendation. Shareholders
must decide whether to tender their Shares and, if so, how many
Shares to tender. In doing so, shareholders should carefully
evaluate all of the information in the tender offer documents, when
available, before making any decision with respect to the tender
offer and should consult their own broker or other financial and
tax advisors.
The company has retained JMP Securities LLC as the dealer
manager for the tender offer and D.F. King & Co., Inc. as the
information agent.
Copies of the Offer to Purchase and the Letter of Transmittal
are being mailed to holders of the Shares. Additional copies of the
Offer to Purchase, the Letter of Transmittal, or the Notice of
Guaranteed Delivery may be obtained at JMP Group’s expense from the
information agent, D.F. King & Co., Inc. at 48 Wall
Street, 22nd Floor, New York, New York 10005. Banks and brokerage
firms should call (212) 269-5550; all others should call (800)
622-1569 (toll-free).
Questions regarding the tender offer should be directed to D.F.
King & Co., Inc. by telephone at (800) 622-1569 (toll-free) or
by email at jmp@dfking.com.
Certain Information Regarding the Tender Offer
The tender offer described in this press release has not yet
commenced. The information in this press release describing JMP
Group’s tender offer is for informational purposes only and does
not constitute an offer to buy or the solicitation of an offer to
sell Shares in the tender offer. On the commencement date of the
tender offer, a tender offer statement on Schedule TO, including an
offer to purchase, a letter of transmittal and related materials,
will be filed with the United States Securities and Exchange
Commission (the “SEC”) by JMP Group. The tender offer will only be
made pursuant to the offer to purchase, the letter of transmittal
and related materials filed as a part of the Schedule TO.
Shareholders should read the offer to purchase and the related
materials carefully, because they contain important information,
including the various terms and conditions of the tender offer.
Once the tender offer is commenced, shareholders will be able to
obtain a free copy of the Schedule TO, the offer to purchase and
other documents that JMP Group will be filing with the SEC from the
SEC’s website at www.sec.gov. Shareholders may also obtain a copy
of these documents, without charge, from D.F. King & Co., Inc.,
the information agent for the tender offer, by calling (800)
622-1569 (toll-free). Shareholders are urged to carefully read
these materials prior to making any decision with respect to the
tender offer. Shareholders and investors who have questions or need
assistance may contact D.F. King & Co., Inc., the information
agent for the tender offer, by telephone at (800) 622-1569
(toll-free) or by email at jmp@dfking.com.
Cautionary Note Regarding Forward-Looking Statements
JMP Group has made statements in this press release that are
forward-looking statements, including the expected timing, size or
other terms of the tender offer and the company’s ability to
complete the tender offer. In some cases, you can identify these
statements by forward-looking words such as “may”, “will”,
“expect”, “plan”, or “believe”, the negative of these terms, and
other comparable terminology. These forward-looking statements,
which are subject to risks, uncertainties and assumptions about JMP
Group, may include projections of the company’s future financial
performance, based on its growth strategies and anticipated trends
in its business. These statements are only predictions based on JMP
Group’s current expectations and projections about future events.
There are important factors that could cause the company’s actual
results, level of activity, performance or achievements to differ
materially from the results, level of activity, performance or
achievements expressed or implied by the forward-looking
statements. In particular, you should consider the numerous risks
outlined under “Risk Factors” in JMP Group’s 2018 Annual Report on
Form 10-K and should carefully review the other reports filed by
the company with the SEC from time to time, including Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. JMP Group is
under no duty to, and it does not undertake any obligation to,
update or review any of these forward-looking statements after the
date of this press release.
About JMP Group
JMP Group LLC is a diversified capital markets firm that
provides investment banking, equity research, and sales and trading
services to corporate and institutional clients as well as
alternative asset management products and services to institutional
and high-net-worth investors. JMP Group conducts its investment
banking and research, sales and trading activities through JMP
Securities; its hedge fund, venture capital and private capital
activities through Harvest Capital Strategies and JMP Asset
Management; and the management of Harvest Capital Credit
Corporation (NASDAQ: HCAP), a business development company, through
HCAP Advisors. For more information, visit www.jmpg.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190513005851/en/
Investor Relations ContactJMP Group LLC
Andrew Palmer(415) 835-8978apalmer@jmpg.com
Media Relations ContactsDukas Linden Public Relations,
Inc.
Zach Leibowitz(646) 722-6528zach@dlpr.com
Alyssa Noud(646) 722-6525alyssa@dlpr.com
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