Morgan Group Completes Acquisition of G.research, LLC
November 01 2019 - 10:17AM
Business Wire
Morgan Group Holding Co. (“Morgan”, OTC: MGHL) today announced
the completion of its acquisition of G.research, LLC, a wholly
owned subsidiary of Associated Capital Group (“AC”, NYSE:AC). Under
the terms of the transaction, Morgan issued 50,000,000 shares of
Morgan’s common stock to Associated Capital Group. As a result of
the transaction, AC holds approximately 83% of Morgan’s outstanding
common shares. In addition, Vincent M. Amabile, Jr., President of
Morgan purchased 5 million shares of Morgan at closing.
G. research, LLC is an institutional research services firm
founded in 1976. The firm covers automotive, basic materials,
consumer staples, financials, healthcare, industrials, media,
technology, telecommunications, and utilities industries, with an
emphasis on small and mid-cap securities.
Upon closing of the transaction the Board of Directors of Morgan
consists of Vincent M. Amabile, Jr., Joseph L. Fernandez and
Stephen J. Moore, Vice President of Finance of LICT
Corporation.
Morgan is a holding company that was spun off from LICT
Corporation in January 2000.
This release contains certain forward-looking information within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. It should be recognized that such information may be based
upon assumptions, projections and forecasts, and must be read
considering the cautionary statements set forth in documents filed
by Morgan Group Holding Co. As a result, there can be no assurance
that any possible transactions will be accomplished or be
successful or that the financial targets will be met, and such
information is subject to uncertainties, risks and inaccuracies,
which could be material.
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version on businesswire.com: https://www.businesswire.com/news/home/20191101005376/en/
Vincent M. Amabile President (914) 921-5150
www.morgangroupholdingco.com
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