JMP Group Announces Public Offering of Senior Notes
19 September 2019 - 3:53PM
Business Wire
JMP Group LLC (NYSE: JMP), an investment banking and alternative
asset management firm, announced today that it is commencing an
underwritten public offering of senior notes due 2029. JMP Group
intends to use a portion of the net proceeds of the offering to
redeem up to all of the outstanding 8.00% senior notes due 2023
(the “8.00% Senior Notes”) of its wholly owned subsidiary, JMP
Group Inc., following the completion of the offering and to use the
remainder for general corporate purposes. This press release should
not be construed as a notice of redemption for the 8.00% Senior
Notes.
UBS Securities LLC and Morgan Stanley & Co. LLC are acting
as joint bookrunning managers of the offering; JMP Securities LLC
and Wedbush Securities Inc. are acting as co-managers. The
underwriters have been granted a 30-day option to purchase
additional senior notes to cover overallotments, if any.
The offering will be made only by means of a prospectus. Copies
of the preliminary prospectus related to the offering may be
obtained from UBS Securities LLC, Attn: Prospectus Department, 1285
Avenue of the Americas, New York, NY 10019, by telephone at (888)
827-7275, or Morgan Stanley & Co. LLC, Attn: Prospectus
Department, 180 Varick Street, New York, NY 10014, by telephone at
(866) 718-1649.
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 that the registration
statement becomes effective. This press release does not constitute
an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any
state 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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements relating to the
proposed offering of senior notes and the anticipated use of the
net proceeds from the offering. Forward-looking statements provide
JMP Group’s current expectations or forecasts about future events,
including beliefs, plans, objectives, intentions, assumptions and
other statements that are not historical facts. Forward-looking
statements are subject to known and unknown risks and uncertainties
that could cause actual results to differ materially from those
expected or implied by the forward-looking statements. The
company’s actual results could differ materially from those
anticipated in forward-looking statements for many reasons,
including the factors described in the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in the company’s Form 10-K for
the year ended December 31, 2018, as filed with the U.S. Securities
and Exchange Commission on March 28, 2019, and other factors
described in the section entitled “Risk Factors” in the company’s
preliminary prospectus related to the proposed offering, as well as
in the similarly captioned sections of other periodic reports filed
by the company under the Exchange Act. Such forward-looking
statements speak only as of the date of this press release. Unless
required by law, JMP Group undertakes no obligation to publicly
update or revise any forward-looking statement to reflect
circumstances or events 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 though 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/20190919005516/en/
Investor Relations Contact JMP Group LLC Andrew Palmer
(415) 835-8978
Media Relations Contacts Dukas Linden Public Relations,
Inc. Zach Leibowitz (646) 722-6528 apalmer@jmpg.com
zach@dlpr.com
Alyssa Noud (646) 722-6525 alyssa@dlpr.com
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