FBR & Co. Announces Final Results of Self-Tender Offer
December 24 2012 - 8:58AM
FBR & Co. (Nasdaq:FBRC) today announced the final 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. FBR has accepted for
purchase 193,666 shares of its common stock at a purchase price of
$3.50 per share. The tender offer was not subject to
proration. Payment for the shares accepted for purchase under
the tender offer will be made promptly, and any shares tendered and
not purchased will be promptly returned to stockholders.
FBR is purchasing the shares, which represent approximately 0.4%
of the shares outstanding as of December 21, 2012, at a total cost
of $677,831, excluding fees and expenses relating to the tender
offer. FBR expects to have approximately 48,819,850 shares of
its common stock outstanding immediately following consummation of
the tender offer.
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
703.469.1190
ssmall@fbr.com
Investors:
Bradley J. Wright
703.312.9678
bwright@fbr.com
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