Ladenburg Thalmann Financial Services Inc. has entered into an equity distribution agreement with Ladenburg Thalmann & Co. Inc. to sell up to 6,832,841 of its 8.00% series A cumulative redeemable preferred shares.
Under the distribution agreement, the sales agents will be entitled to compensation of up to 2.00% of the gross proceeds from the sale of all of the shares sold through the sales agents.
Ladenburg Thalmann had previously entered into an equity distribution agreement with Jefferies LLC to sell up to 8 million of its 8.00% series A cumulative redeemable preferred shares. The agreement was terminated June 11.
