FBR & Co. Announces Preliminary Results of Self-Tender Offer
December 19 2012 - 7:50AM
FBR & Co. (Nasdaq:FBRC) today announced the preliminary results
of its previously announced modified "Dutch auction" tender offer
to purchase up to 4 million shares of its common stock at a price
between $3.25 and $3.50, which expired at 12:00 midnight, New York
City time, on Tuesday, December 18, 2012. Based on a preliminary
count by American Stock Transfer & Trust Company, LLC, the
depositary for the tender offer, a total of 194,193 shares of FBR
common stock were properly tendered and not withdrawn in the tender
offer at a price of $3.50 per share (or by shareholders electing to
tender at the ultimate purchase price determined under the tender
offer terms), including 30,399 shares that were tendered through
notice of guaranteed delivery. Accordingly, based on the
preliminary results, FBR expects to purchase 194,193 shares, for a
total cost of $679,676, excluding fees and expenses relating to the
tender offer. These shares represent approximately 0.4% of the
shares outstanding as of December 18, 2012.
The number of shares to be purchased and the price per share are
preliminary. The determination of the final number of shares
to be purchased, the final price per share and the proration
factor, if any, is subject to confirmation by the depositary of the
proper delivery of the shares validly tendered and not
withdrawn. The actual number of shares purchased, the final
purchase price and the proration factor, if any, will be announced
promptly following completion of the verification
process. Payment for the shares accepted for purchase, and
return of all other shares tendered, will occur promptly after
completion of the final purchase price and proration computations,
if applicable.
FBR is authorized to repurchase additional shares of its common
stock from time to time through open market purchases, at
prevailing market prices or in privately negotiated or other
transactions. FBR's share repurchase program may be modified
or terminated by FBR's board of directors at any
time. Pursuant to Rule 13e-4(f) under the Securities Exchange
Act of 1934, as amended, any such additional repurchases by FBR of
shares of its common stock shall not occur prior to January 4,
2013.
FBR Capital Markets & Co. served as the dealer manager for
the tender offer and D.F. King & Co., Inc. is serving as the
information agent.
Questions regarding the tender offer should be directed to D.F.
King & Co., Inc. at (800) 659-6590 (Toll-free).
About FBR & Co.
FBR & Co. (Nasdaq:FBRC) provides investment
banking, merger and acquisition advisory, institutional brokerage,
and research services through its subsidiary FBR Capital Markets
& Co. FBR focuses capital and financial expertise on the
following industry sectors: consumer; diversified industrials;
energy & natural resources; financial institutions; insurance;
real estate; and technology, media & telecom. FBR is
headquartered in the Washington, D.C. metropolitan area with
offices throughout the United States. For more information, please
visit www.fbr.com.
The FBR & Co. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6405
CONTACT: Media:
Shannon Small at 703.469.1190 or ssmall@fbr.com
Investors:
Bradley J. Wright at 703.312.9678 or bwright@fbr.com
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