Holland & Knight Represents Ladenberg Thalmann Financial Services in $73.5 Million Public Offering
MIAMI (January 24, 2018) – Holland & Knight advised Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA), a publicly-traded diversified financial services company based in Miami, Fla., in its approximately $73.5 million public offering of 6.50% senior notes due 2027. The offering was finalized on Dec. 12, 2017.
The offering featured a unique security called a “baby bond,” which were sold to public investors, including retail investors, in denominations of $25. Ladenburg’s baby bonds are traded on the NYSE American stock exchange and were rated investment grade.
Ladenburg Thalmann & Co. Inc., a subsidiary of the company, acted as sole book-running manager for the offering; BB&T Capital Markets, a division of BB&T Securities, LLC, and Incapital LLC acted as lead managers; and EarlyBirdCapital, Inc., Barrington Research Associates, Inc. and Brookline Capital Markets, a division of CIM Securities, LLC, acted as co-managers for the offering.
Holland & Knight Partner Bradley Houser and Associate Shane Segarra led the firm's representation of Ladenburg.