By Sheri Kasprzak
New York, Nov. 7 - Epoch Holding Corp. concluded a $10 million private placement of series A convertible preferred stock with General American Investors Co., Inc.
General American bought 10,000 shares of the preferreds at $1,000 each.
The 4.6% preferreds are convertible into 1,666,667 common shares at $6.00 each.
The preferreds will automatically convert into common shares on the fifth anniversary of issuance.
Proceeds will be used for working capital and general corporate purposes.
New York-based Epoch Holding is the parent company of Epoch Investment Partners, Inc., an investment manager and adviser.
| Issuer: | Epoch Holding Corp.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $10 million
|
| Shares: | 10,000
|
| Price: | $1,000
|
| Dividend: | 4.6%
|
| Conversion ratio: | Into 1,666,667 common shares
|
| Conversion price: | $6.00
|
| Call: | Automatically convertible into common shares on the fifth anniversary
|
| Warrants: | No
|
| Investor: | General American Investors Co., Inc.
|
| Settlement date: | Nov. 7
|
| Stock symbol: | Nasdaq: EPHC
|
| Stock price: | $6.42 at close Nov. 7
|
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