RCS Capital sets terms for $55 million IPO

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RCS Capital, a newly organized wholesale broker-dealer, investment bank, and transaction management services provider, announced terms for its IPO on Friday. The New York, NY-based company plans to raise $55 million by offering 2.8 million shares at a price range of $19 to $21. At the midpoint of the proposed range, RCS Capital would command a fully diluted market value of $535 million. 

RCS Capital, which was founded in 2007 and booked $470 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol RCAP. JMP Securities and Ladenburg Thalmann & Co. are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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