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Stock Market & Financial Investment News

News Breaks
July 8, 2014
09:23 EDTICH, RCAPICH announces preliminary stockholder merger consideration election results
Investors Capital Holdings (ICH) announced the preliminary results of the elections made by stockholders of ICH regarding the form of merger consideration they will receive in connection with the acquisition by RCS Capital (RCAP), of ICH. The closing of the Merger is expected to be effective on July 11.As previously announced, on October 27, 2013, ICH, RCAP and Zoe Acquisition, LLC, a Delaware limited liability company and a wholly-owned subsidiary of RCAP, entered into an Agreement and Plan of Merger. Pursuant to the Merger Agreement, each issued and outstanding share of common stock of ICH, par value 1c per share will be, at the holder’s election and subject to the limitation described below, converted into either cash or shares of Class A common stock of RCAP. Holders of ICH Common Stock who elected to receive cash will receive $7.25 per share of ICH Common Stock. As of July 7, there were approximately 7,238,309 shares of ICH Common Stock outstanding. Based on available information as of the Election Deadline, the preliminary merger consideration election results are as follows: Holders of approximately 14.55% of the outstanding shares of ICH Common Stock, or 1,053,307 shares of ICH Common Stock, elected the Cash Election Consideration. Holders of approximately 9.84% of the outstanding shares of ICH Common Stock, or 711,922 shares of ICH Common Stock, elected the Stock Election Consideration.
News For ICH;RCAP From The Last 14 Days
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August 28, 2015
17:04 EDTRCAPApollo Principal Holdings reports 5.7% stake in RCS Capital
August 17, 2015
08:45 EDTRCAPRCS Capital shares undervalued after decline, says JMP Securities
After RCS reported results that JMP Securities views as disappointing, the firm says that the company faces a high degree of uncertainty going forward. However, the firm thinks that the company's current share price undervalues its existing retail franchise, while its earnings power could significantly boost the stock if its business becomes more stable. JMP keeps an Outperform rating on the shares.

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