Ladenburg Thalmann Financial Services Inc. priced a public offering of $50 million of 7.75% senior notes due 2029.

The notes were priced at 100% of the principal amount, plus accrued interest from May 29, if the initial settlement occurs after that date. They are expected to be listed on the NYSE American and to trade thereon within 30 days of the original issue date under the trading symbol LTSH.

The underwriters have a 30-day option to buy up to an additional $7.5 million of notes to cover any overallotments.

The company intends to use the net proceeds for general corporate purposes.

UBS Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers and BB&T Capital Markets and Incapital LLC are acting as co-managers for the offering, which is expected to close May 29.