FBR & Co. Announces 1-for-4 Reverse Stock Split
February 05 2013 - 3:44PM
FBR & Co. (Nasdaq:FBRC) (the "Company"), a leading investment
bank serving the middle market, announced today that it will effect
a 1-for-4 reverse stock split (the "Reverse Stock Split") of the
Company's issued and outstanding shares of common stock, par value
$0.001 per share (the "Common Stock"), effective at 9:00 a.m.,
Eastern Time, on February 28, 2013 (the "Effective Time").
As a result of the reverse stock split, every four
shares of the Company's Common Stock issued and outstanding
immediately prior to the Effective Time will be combined into one
share of Common Stock. The Company will not issue fractional shares
of common stock. Instead, if a fractional interest in a share of
Common Stock would be deliverable to a shareholder pursuant to the
Reverse Stock Split, the Company shall pay an amount in cash equal
to the product of (i) the fractional share interest otherwise
issuable to such shareholder as a result of the Reverse Stock
Split, multiplied by (ii) the product of (A) the volume weighted
average price of the Company's Common Stock on the five trading
days prior to the Effective Time, as reported by the NASDAQ Global
Select Market, multiplied by (B) four.
After the Reverse Stock Split, the Company's shares
will continue to trade on the NASDAQ Global Select Market under the
symbol "FBRC" with the letter "D" added to the end of the trading
symbol for a period of 20 trading days to indicate that the reverse
stock split has occurred. The Company's registered shares of Common
Stock trading on a split-adjusted basis on the NASDAQ Global Select
Market will do so under a new CUSIP number ― 30247C 400. The
Company's registered shares of Common Stock that were previously
issued to accredited investors will have a new CUSIP number ―
30247C 509.
Based upon the current number of issued and
outstanding shares of Common Stock of approximately 47.3 million
shares, the number of shares of Common Stock issued and outstanding
immediately after the Reverse Stock Split will be approximately
11.8 million shares.
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
Cautionary Statement Regarding Forward
Looking Information
Statements in this release concerning future
performance, developments, events, market forecasts, revenues,
expenses, earnings, run rates and any other guidance on present or
future periods constitute forward-looking statements. These
forward-looking statements are subject to a number of factors,
risks and uncertainties that might cause actual results to differ
materially from stated expectations or current circumstances. These
factors include, but are not limited to, the effect of demand for
public and private securities offerings, activity in the secondary
securities markets, interest rates, the realization of gains and
losses on principal investments, available technologies,
competition for business and personnel, and general economic,
political and market conditions. For a discussion of these and
other risks and important factors that could affect FBR's future
results and financial condition, see "Risk Factors" in Part I, Item
1A and "Management's Discussion and Analysis of Financial Condition
and Results of Operations" in Part II, Item 7 of the Company's
Annual Report on Form 10-K for the fiscal year ended December 31,
2011; and other items throughout the Company's Form 10-K, Quarterly
Reports on Form 10-Q, and Current Reports on Form 8-K.
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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