JMP Group Announces Partial Redemption of 8.00% Senior Notes Due 2023
July 10 2018 - 4:15PM
Business Wire
JMP Group LLC (NYSE: JMP), an investment banking and alternative
asset management firm, announced today that its wholly owned
subsidiary, JMP Group Inc., has given notice of its intention to
redeem $10.0 million principal amount of its 8.00% Senior Notes due
2023 (CUSIP No. 46629U 206; NYSE: JMPB) (the “2023 Notes”) on July
31, 2018 (the “Redemption Date”). As of July 9, 2018, $46,000,000
in aggregate principal amount of the 2023 Notes were outstanding.
The redemption is being made pursuant to the terms of the 2023
Notes and the indenture governing the 2023 Notes. The redemption
price per 2023 Note will be $25 plus accrued and unpaid interest up
to, but excluding, the Redemption Date. The redeemed 2023 Notes
will be cancelled and not subject to reissuance.
JMP Group Inc. instructed U.S. Bank National Association, as the
trustee for the 2023 Notes, to distribute a Notice of Redemption on
June 29, 2018, to all currently registered holders of the 2023
Notes. Copies of such Notice of Redemption and additional
information relating to the procedure for redemption of the 2023
Notes may be obtained from U.S. Bank National Association by
calling (800) 934-6802 (toll-free). JMP Group Inc. will use
available cash to redeem the 2023 Notes.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements relating to the
expected partial redemption of the 2023 Notes. Forward-looking
statements provide JMP Group’s current expectations or forecasts
about future events, including beliefs, plans, objectives,
intentions, assumptions and other statements that are not
historical facts. Forward-looking statements are subject to known
and unknown risks and uncertainties that could cause actual results
to differ materially from those expected or implied by the
forward-looking statements. The company’s actual results could
differ materially from those anticipated in forward-looking
statements for many reasons, including the factors described in the
sections entitled “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in the
company’s Form 10-K for the year ended December 31, 2017, as filed
with the U.S. Securities and Exchange Commission on March 28, 2018.
Such forward-looking statements speak only as of the date of this
press release. Unless required by law, JMP Group undertakes no
obligation to publicly update or revise any forward-looking
statement to reflect circumstances or events after the date of this
press release.
About JMP Group
JMP Group LLC is a diversified capital markets firm that
provides investment banking, equity research, and sales and trading
services to corporate and institutional clients as well as
alternative asset management products and services to institutional
and high-net-worth investors. JMP Group conducts its investment
banking and research, sales and trading activities through JMP
Securities; its hedge fund, venture and private capital, and credit
management activities through Harvest Capital Strategies, JMP Asset
Management and JMP Credit Advisors; and the management of Harvest
Capital Credit Corporation (NASDAQ: HCAP), a business development
company, through HCAP Advisors. For more information, visit
www.jmpg.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180710005940/en/
Investor Relations ContactJMP Group LLCAndrew Palmer,
415-835-8978apalmer@jmpg.comorMedia Relations ContactsDukas
Linden Public Relations, Inc.Zach Leibowitz,
646-722-6528zach@dlpr.comAlyssa Noud,
646-722-6525alyssa@dlpr.com
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