Empire Financial Holding Company Announces up to $10 Million Financing to Support Expansion
2007年3月8日 - 10:30PM
PRニュース・ワイアー (英語)
LONGWOOD, Fla., March 8 /PRNewswire-FirstCall/ -- Empire Financial
Holding Company (AMEX:EFH), a full service brokerage, investment
banking and investment advisory firm, today announced that it has
finalized the terms of a transaction in which it proposes to sell
in a private placement to accredited individual and institutional
investors up to $10 million of units, which will consist of
convertible debentures and Common Stock in the ratio of $9 million
in principal amount of debentures and $1 million of Common Stock,
as well as five-year warrants to purchase five shares of common
stock for every one share of Common Stock included in the units.
The debentures will have a term of five years, pay interest at 6.5%
per annum, and are convertible to common stock at a price of $2.39
per share. The warrants are exercisable after six months from the
date of issue at a price of $2.62 per share. Each share of common
stock underlying the units is priced at $2.39, the closing price of
the company's common stock on March 6, 2007. No units will be sold
unless the company receives binding subscription agreements to
purchase at least $8 million of the units. The closing is subject
to listing approval by the American Stock Exchange and certain
other substantive conditions. Proceeds of the offering will be used
to support Empire's continuing expansion. William Blair &
Company acted as financial advisor on the transaction. About Empire
Financial Holding Company Empire Financial Holding Company, through
its wholly owned subsidiaries, Empire Financial Group, Inc. and
Jesup & Lamont, provides full-service retail brokerage services
through its network of owned and independently operated offices.
Through its market-making and trading division, the Company offers
securities order execution services for unaffiliated broker dealers
and makes markets in domestic and international securities. Empire
Financial also provides Investment Banking services for clients as
well as turn-key fee based investment advisory and registered
investment advisor custodial services through its wholly owned
subsidiary, Empire Investment Advisors, Inc. Forward-Looking
Statement Disclaimer This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties or other factors which may cause
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Factors that might cause such a difference include,
without limitation, fluctuations in the volume of transactional
services provided by the Company, competition with respect to
financial services commission rates, the effect of general economic
and market conditions, factors affecting the securities brokerage
industry as well as other risks and uncertainties detailed from
time to time in the Company's Securities and Exchange Commission
filings. DATASOURCE: Empire Financial Holding Company CONTACT:
Donald A. Wojnowski, Jr., President & CEO of Empire Financial
Holding Company, +1-407-774-1300, ext. 1841, or fax,
+1-407-830-5078,
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