Reuters logo
BRIEF-Siebert Financial executes letter of intent with Stockcross Financial Services
May 8, 2017 / 3:52 PM / 4 months ago

BRIEF-Siebert Financial executes letter of intent with Stockcross Financial Services

May 8 (Reuters) - Siebert Financial Corp :

* Siebert Financial Corp. executes letter of intent with Stockcross Financial Services

* After transaction, Siebert Financial will increase its total customer assets to over $11 billion with 11 retail branches nationwide

* Will exchange number of its shares as determined by an outside party, Manorhaven Capital, Llc, according to a fairness opinion

* Shares to be issued will be dilutive to all shareholders, including current majority shareholders

* To acquire approximately $4 billion in customer assets of its retail securities business and transfer of its sales force Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below