Ladenburg Thalmann Financial Services Inc. priced an underwritten public offering of $40 million of 7.00% senior notes due 2028.
The company also granted the underwriters a 30-day option to purchase up to an additional $6 million of notes to cover overallotments.
Ladenburg Thalmann plans to use the net proceeds from the offering for general corporate purposes.
The offering is expected to close May 30.
Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager for the offering. BB&T Capital Markets, Incapital LLC and Barrington Research Associates Inc. are acting as co-managers.
