Hudson Holding Corp. Signs Letter of Intent to Acquire Business of Next Generation Equity Research, LLC
January 21 2010 - 4:54PM
PR Newswire (US)
JERSEY CITY, N.J., Jan. 21 /PRNewswire-FirstCall/ -- Hudson Holding
Corporation (OTC:HDHL) (BULLETIN BOARD: HDHL) , parent of Hudson
Securities, Inc., today announced that it has entered into a Letter
of Intent to acquire the equity research and investment banking
business of Next Generation, LLC, a Chicago based equity research
boutique focused on the needs of institutional investors. The
consummation of the transaction is subject to completion of due
diligence, the negotiation of a definitive agreement, approval by
Next Generation's members, FINRA approval and customary closing
conditions. There can be no assurance that the transaction will be
completed. "I am delighted by the anticipated addition of Next
Generation's team and its Chicago office to our roster. Next
Generation delivers high quality, unbiased, idea driven research on
companies with market capitalizations of $5 billion or less. This
will allow Hudson to offer its institutional clients a unique
research product that addresses companies that are often overlooked
by other firms," noted Anthony (Tony) M. Sanfilippo, the Company's
Chief Executive Officer. Timothy M. Fierce, Managing Partner of
Next Generation, stated, "We are excited to join Hudson and gain
access to their resources. We believe that this will enable us to
leverage our platform and expand our existing client base." Michael
W. Boehm, Managing Partner of Next Generation, added, "Hudson gives
us the ability to expand our research acumen in the marketplace and
advance our investment banking capabilities." The parties expect
the transaction to be completed in the first quarter of 2010.
Hudson: Hudson Holding Corporation is a publicly traded company on
the OTC Bulletin Board under the symbol "HDHL" and is the parent of
Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson
Securities, Inc. is dedicated to meeting the liquidity needs of its
clients -- institutions, hedge funds, asset managers, and broker
dealers -- by providing execution solutions and making markets in
over 15,000 U.S. and foreign securities and ADRs. As a registered
broker-dealer under the Securities Exchange Act of 1934, Hudson
Securities is a member of the Financial Industry Regulatory
Authority ("FINRA") and has been in business since 1984. Hudson
Technologies provides technology services to Hudson Securities and
client companies. Next Generation Equity Research, LLC Next
Generation Equity Research, LLC is an equity research boutique
focused on the needs of the institutional investor. It provides
unbiased, idea-driven research on small to mid-cap companies in the
industrial, airlines, and basic materials sectors. Next
Generation's focus on the small to mid-cap sector fulfills demand
for research products covering publicly-held companies often
overlooked by other investment firms. Certain statements contained
herein constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of the Company may differ materially from
the results expressed or implied by such forward-looking
statements. Given these uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. Unless
otherwise required by law, the Company also disclaims any
obligation to update its view of any such risks or uncertainties or
to announce publicly the result of any revisions to the
forward-looking statements made here; however, readers should
review carefully reports or documents the Company files
periodically with the Securities and Exchange Commission. Contacts:
Anthony (Tony) M. Sanfilippo Keith R. Knox Andrew Lewin CEO
President Investor Relations 201-216-0100 201-216-0100 DATASOURCE:
Hudson Holding Corporation CONTACT: Anthony (Tony) M. Sanfilippo,
CEO, +1-201-216-0100, Keith R. Knox, President, +1-201-216-0100, or
Andrew Lewin, Investor Relations,
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