Haffkin-Roth Announces Pricing Of Senior Notes And Equity Units

Online, November 2, 2012 (Newswire.com) - Senior Notes

The Company is offering $30 million in aggregate principal amount of Senior Notes. The notes will bear interest at a rate of 7 7/8% per annum. The Company will receive gross proceeds of $30 million from the sale of the notes, before deducting the underwriters' discount and estimated offering expenses.
Equity Units

The Company is offering $45 million in equity units, each with a stated amount of $25 and initially consisting of a purchase contract and a 1/40th, or 2.5 percent, undivided beneficial ownership interest in a $1,000 principal amount subordinated note.

The purchase contracts will obligate the holders to purchase from the Company, between approximately 21 million and 25 million shares of the Company's stock, subject to adjustments, depending on the average closing price of the Company's stock over the 20 day period ending on the third trading day prior to such date.

The subordinated notes will bear interest at the rate of 6 1/8% per year, payable quarterly, subject to certain deferral provisions. The subordinated notes will be remarketed in the future, at which time the interest rate on the notes will be reset and thereafter interest will be payable at the reset rate. The Company will receive gross proceeds of $450 million from the sale of the equity units, before deducting the underwriters' discount and estimated offering expenses.

The acquisition of TekPros is scheduled to be finalized in the first quarter of 2013 and is going to help Haffkin-Roth' team grow the Haffkin-Roth Technologies department.

Haffkin-Roth is a pre-eminent provider of alternative investments. Our mission is to find the best alternative investment managers and bring them to our clients through alternative mutual funds, private funds, and futures managed accounts.

Our suite of products is sold through the intermediary channel, including clearing houses, independent broker/dealers and registered investment advisors. We also have a robust Private Client Group that works directly with high net worth individuals and family of Haffkin-Roth. We pride ourselves on our people and are strongly committed to our company motto: Trusted Alternatives. Intelligent Investing.