JMP Group Announces Partial Redemption of 7.25% Senior Notes Due 2027
June 16 2021 - 4:15PM
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., intends to give notice on Friday, June
18, 2021, to holders of its 7.25% Senior Notes due 2027 (CUSIP No.
466273 109; NASDAQ: JMPNL) (the “2027 Notes”) of its intention to
redeem $15.0 million principal amount (600,000 Units) of the 2027
Notes on July 19, 2021 (the “Redemption Date”). The board of
directors of JMP Group Inc. has authorized the redemption.
The redemption will be made pursuant to the terms of the 2027
Notes and the indenture governing the 2027 Notes. The redemption
price per 2027 Note will be $25 plus accrued and unpaid interest up
to, but excluding, the Redemption Date. The redeemed 2027 Notes
will be cancelled and not subject to reissuance.
JMP Group Inc. intends to instruct U.S. Bank National
Association, as the trustee for the 2027 Notes, to distribute a
Notice of Redemption on June 18, 2021, to all currently registered
holders of the 2027 Notes. Copies of such Notice of Redemption and
additional information relating to the procedure for redemption of
the 2027 Notes may be obtained after June 18, 2021, from U.S. Bank
National Association by calling (800) 934-6802 (toll-free). JMP
Group Inc. will use available cash to redeem the 2027 Notes.
On May 26, 2021, JMP Group Inc. gave notice of its intention to
redeem $10.0 million principal amount of its 2027 Notes, which
redemption will take place on June 25, 2021. As of June 17, 2021,
$40,000,000 in aggregate principal amount of the 2027 Notes were
outstanding.
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
expected redemption of the 2027 Notes. 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, 2020, as filed with the
U.S. Securities and Exchange Commission on March 29, 2021. 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 and its venture capital and private capital activities
through Harvest Capital Strategies and JMP Asset Management. For
more information, visit www.jmpg.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210616005962/en/
Investor Relations Contact JMP Group LLC
Andrew Palmer (415) 835-8978 apalmer@jmpg.com
Media Relations Contacts Dukas Linden Public Relations,
Inc.
Zach Leibowitz (646) 722-6528 zach@dlpr.com
Michael Falco (646) 808-3611 michael@dlpr.com
JMP (NYSE:JMP)
Historical Stock Chart
From Aug 2024 to Sep 2024
JMP (NYSE:JMP)
Historical Stock Chart
From Sep 2023 to Sep 2024