Emergent Capital offering $25 million of $25-par five-year notes

By Stephanie N. Rotondo

Seattle, Feb. 1 – Emergent Capital Inc. intends to sell $25 million of $25-par senior notes due Feb. 15, 2021, according to a prospectus filed with the Securities and Exchange Commission on Monday.

Ladenburg Thalmann & Co. Inc. and Compass Point are the joint bookrunning managers.

Interest will be payable on the notes on the 15th day of February, May, August and November, beginning May 15.

The notes become redeemable on Feb. 15, 2018 at 105% of par plus accrued interest through Feb. 14, 2019. On Feb. 15, 2019, the redemption price is 103% of par plus accrued interest, through Feb. 14, 2020. On or after Feb. 15, 2020, the redemption price is 101% of par plus accrued interest.

Additionally, Emergent is required to redeem the issue in the event of a change of control. In that instance, the redemption price is 101% of par plus accrued interest.

The notes will be listed on the Nasdaq Global Market under the ticker symbol “EMGB.”

Proceeds will be used for general corporate purposes.

Emergent Capital is a Boca Raton, Fla.-based specialty finance company focused on life insurance settlements.

© 2015 Prospect News.
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