JMP Group Announces Full Redemption of 7.25% Senior Notes Due 2027 and Satisfaction and Discharge of Indenture
August 11 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., has given notice of its intention to
redeem all of the currently outstanding $15.0 million principal
amount of its 7.25% Senior Notes due 2027 (CUSIP No. 466273 109;
NASDAQ: JMPNL) (the “2027 Notes”) on September 13, 2021 (the
“Redemption Date”), following which they will be delisted from The
Nasdaq Global Market. The redemption is being 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.
Furthermore, the company has deposited sufficient funds with the
trustee under the indenture governing the 2027 Notes, U.S. Bank
National Association, to satisfy and discharge the 2027 Notes and
the indenture with respect to the 2027 Notes, and the trustee has
acknowledged such satisfaction and discharge.
JMP Group Inc. has instructed the trustee to distribute a Notice
of Redemption to all currently registered holders of the 2027 Notes
on September 13, 2021. Copies of such Notice of Redemption and
additional information relating to the procedure for redemption of
the 2027 Notes may be obtained from U.S. Bank National Association
by calling (800) 934-6802 (toll-free).
This press release does not constitute a notice of redemption
under the optional redemption provisions of the 2027 Notes, nor
does it 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 and the satisfaction and
discharge of the indenture governing 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210811005490/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
Elena Muller (646) 722-6529 elena@dlpr.com
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