NEW YORK and BEVERLY HILLS, Calif., Oct. 27, 2016 /PRNewswire/ -- Kennedy Cabot
Acquisition, LLC ("Kennedy Cabot Acquisition") today announced that
it has amended and supplemented its tender offer (the "Offer") to
purchase the shares of common stock of Siebert Financial Corp., a
New York corporation (NASDAQ:
SIEB) ("Siebert"), par value $0.01
per share (each, a "Share", and collectively, the "Shares"), that
represent all of the issued and outstanding Shares other than the
19,310,000 Shares owned by the Estate of Muriel F. Siebert. The Offer is being made upon
the terms and subject to the conditions set forth in the Offer to
Purchase dated September 6, 2016 (as
amended by Amendment No. 1 dated September
30, 2016, and as it may be amended or supplemented from time
to time, the "Offer to Purchase").
The amendment provides, among other items, (i) an extension of
the Offer to November 7, 2016 at 5:00
P.M, Eastern Time from October 27,
2016 at 5:00 P.M, Eastern Time, and (ii) the removal of
certain conditions to close the Offer.
American Stock Transfer & Trust Company LLC, the depositary
for the Offer, has indicated that as of 5:00 P.M, Eastern Time, at
the end of October 26, 2016,
approximately 22,088,972 Shares were issued and outstanding, and
645,452 Shares have been tendered into and not properly withdrawn
from the Offer.
About Kennedy Cabot Acquisition
Kennedy Cabot Acquisition is a Nevada limited liability company. The
principals of Kennedy Cabot Acquisition have substantial experience
in the brokerage industry and are/were affiliates of StockCross
Financial Services, Inc. ("StockCross"). StockCross is a
broker-dealer member of FINRA with offices across the United States.
Cautionary note regarding forward-looking statements
This communication contains "forward-looking statements" (as
defined in the Securities Litigation Reform Act of 1995) regarding,
among other things, future events. Words such as "anticipate,"
"expect," "intend," "believe," and words and terms of similar
substance used in connection with any discussion of future plans,
actions or events identify forward-looking statements.
Forward-looking statements relating to the proposed transactions
include, but are not limited to: statements about the benefits of
the proposed transactions; Siebert's and Kennedy Cabot
Acquisition's plans, objectives, expectations and intentions; the
expected timing of completion of the proposed transactions; and
other statements relating to the transactions that are not
historical facts. Forward-looking statements are based on
information currently available to Siebert and Kennedy Cabot
Acquisition, as the case may be, and involve estimates,
expectations and projections. Investors are cautioned that all such
forward-looking statements are subject to risks and uncertainties,
and important factors could cause actual events or results to
differ materially from those indicated by such forward-looking
statements. With respect to the proposed transactions between
Siebert and Kennedy Cabot Acquisition, these risks and factors
could include, but are not limited to: securing regulatory
approval; the risk that a condition to closing may be delayed or
may not be satisfied; the diversion of management time on
transaction-related issues; changes in the general economic
environment, or social or political conditions, that could affect
the business of Siebert and its subsidiaries; and the potential
impact of the announcement or consummation of the proposed
transactions on relationships with customers, competitors,
management and other employees.
ADDITIONAL INFORMATION
This communication does not constitute an offer to buy or
solicitation of an offer to sell any securities. This communication
is for informational purposes only. The tender offer is not being
made to, nor will tenders be accepted from, or on behalf of,
holders of shares in any jurisdiction in which the making of the
tender offer or the acceptance thereof would not comply with the
laws of that jurisdiction. The tender offer is being made pursuant
to a tender offer statement on Schedule TO (including the Offer to
Purchase, a related Letter of Transmittal and other offer
materials) filed by with the U.S. Securities and Exchange
Commission ("SEC") on September 6,
2016, as amended from time to time. In addition, on
September 6, 2016, Siebert filed a
Solicitation/Recommendation statement on Schedule 14D-9 with the
SEC related to the tender offer. Stockholders of Siebert are urged
to read these documents, all amendments thereto and other documents
filed with the SEC carefully in their entirety because they contain
important information about the Offer. The Schedule TO and certain
other offer documents, along with the Solicitation/Recommendation
statement, will be made available to all stockholders of Siebert at
no expense to them. These documents are available at no charge
through the web site maintained by the SEC at http://www.sec.gov.
The Offer to Purchase, related Letter of Transmittal, the
Solicitation/Recommendation statement and other offering documents
may also be obtained for free by contacting the Information Agent
for the tender offer, DF King & Co., Inc., toll-free (from the
US only) at (888) 540-8736.
Contacts:
Media:
Martin H.
Kaplan, Gusrae Kaplan Nusbaum PLLC /
New York
Phone: (212) 514-8369 Email: kcacquisition@gmail.com
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SOURCE Kennedy Cabot Acquisition, LLC