JMP Group Announces Public Offering of Senior Notes
November 20 2017 - 9:43AM
Business Wire
JMP Group LLC (NYSE: JMP), an investment banking and alternative
asset management firm, announced today that its wholly owned
subsidiary, JMP Group Inc., is commencing an underwritten public
offering of senior notes due 2027. The company intends to use a
portion of the net proceeds of the offering to redeem some or all
of its outstanding 7.25% Senior Notes due 2021 or 8.00% Senior
Notes due 2023, or both, following the completion of the offering
and the remainder for general corporate purposes.
UBS Securities LLC and Morgan Stanley & Co. LLC are acting
as joint bookrunning managers of the offering; JMP Securities LLC
and Barrington Research Associates, Inc. are acting as co-managers.
The underwriters may be granted a 30-day option to purchase
additional senior notes to cover overallotments, if any.
This offering is being made only by the prospectus and
prospectus supplement related to this offering. The notes will be
issued pursuant to an effective shelf registration statement
previously filed on Form S-3 with the U.S. Securities and Exchange
Commission. The preliminary prospectus supplement, accompanied by
the base prospectus related to the offering, has been filed with
the SEC and is available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus may also be obtained from UBS Securities
LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New
York, NY 10019, by telephone at (888) 827-7275, or Morgan Stanley
& Co. LLC, Attn: Prospectus Department, 180 Varick Street, New
York, NY 10014, by telephone at (800) 584-6837.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements relating to the
proposed offering of senior notes and the anticipated use of the
net proceeds from the offering. Forward-looking statements provide
JMP Group’s current expectations or forecasts about future events,
including beliefs, plans, objectives, intentions, assumptions and
other statements that are not historical facts. Forward-looking
statements are subject to known and unknown risks and uncertainties
that could cause actual results to differ materially from those
expected or implied by the forward-looking statements. The
company’s actual results could differ materially from those
anticipated in forward-looking statements for many reasons,
including the factors described in the sections entitled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in the company’s Form 10-K for
the year ended December 31, 2016, as filed with the U.S. Securities
and Exchange Commission on March 14, 2017, and other factors
described in the section entitled “Risk Factors” in the company’s
preliminary prospectus supplement related to the proposed offering
filed with the SEC on the date of this press release as well as in
the similarly captioned sections of other periodic reports filed by
the company under the Exchange Act. Such forward-looking statements
speak only as of the date of this press release. Unless required by
law, JMP Group undertakes no obligation to publicly update or
revise any forward-looking statement to reflect circumstances or
events after the date of this press release.
About JMP Group
JMP Group LLC is a diversified capital markets firm that
provides investment banking, equity research, and sales and trading
services to corporate and institutional clients as well as
alternative asset management products and services to institutional
and high-net-worth investors. JMP Group conducts its investment
banking and research, sales and trading activities through JMP
Securities; its hedge fund, venture and private capital, and credit
management activities though Harvest Capital Strategies, JMP Asset
Management and JMP Credit Advisors; and the management of Harvest
Capital Credit Corporation (NASDAQ: HCAP), a business development
company, through HCAP Advisors. For more information, visit
www.jmpg.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171120005672/en/
Investor RelationsJMP Group LLCAndrew Palmer,
415-835-8978apalmer@jmpg.comorMedia RelationsDukas Linden
Public Relations, Inc.Ben Jaffe, 212-704-7385ben@dlpr.comorZach
Leibowitz, 212-704-7385zach@dlpr.com
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