Ladenburg Thalmann Financial Services Inc. has closed its previously announced underwritten registered public offering of $72.5 million aggregate principal amount of 6.50% senior notes due 2027.
The company has granted the underwriters a 30-day option to purchase up to about $10.9 million aggregate principal amount of additional notes to cover any overallotment.
The company plans to use net proceeds from the offering, amounting to about $69.6 million, for general corporate purposes.
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager for the offering. BB&T Capital Markets and Incapital LLC acted as lead managers, while EarlyBirdCapital Inc., Barrington Research Associates Inc. and Brookline Capital Markets acted as co-managers.