By Laura Lutz
Des Moines, March 5 - Broadpoint Securities Group, Inc. closed a $20 million private placement of stock.
The company sold about 11.6 million shares at $1.70 apiece.
MAST Capital Management, LLC bought about 7.1 million of the shares. Also participating in the investment were 23 Broadpoint employees, including chairman and chief executive officer Lee Fensterstock and three of the firm's business unit heads, Rob Fine, Rob Tirschwell and Joe Mannello.
MatlinPetterson, Broadpoint's controlling shareholder, also participated.
Broadpoint is a New York-based investment bank.
| Issuer: | Broadpoint Securities Group, Inc.
|
| Issue: | Stock
|
| Amount: | $20 million
|
| Shares: | 11.6 million (approximate)
|
| Price: | $1.70
|
| Warrants: | No
|
| Investors: | MAST Capital Management, LLC (for about 7.1 million shares); Lee Fensterstock Rob Fine, Rob Tirschwell, Joe Mannello, 19 other Broadpoint employees, MatlinPetterson
|
| Announcement date: | March 5
|
| Stock symbol: | Nasdaq: BPSG
|
| Stock price: | $1.53 at close March 4
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
