Silvercrest sets terms for IPO

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Silvercrest Asset Management Group, a financial advisory firm with over $11 billion of assets under management, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $55 million by offering 4.6 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Silvercrest would command a fully diluted market value of $135 million. Silvercrest Asset Management Group, which was founded in 2001 and booked $47 million in sales for the 12 months ended 6/30/2012, plans to list on the NASDAQ under the symbol SAMG. Sandler O'Neill and Raymond James 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

Referenced Stocks: SAMG

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