SOURCE: Imperial Capital

Imperial Capital

January 25, 2010 04:45 ET

Imperial Capital Group, Inc. Commences Initial Public Offering of Common Stock

LOS ANGELES, CA--(Marketwire - January 25, 2010) - Imperial Capital Group, Inc. ("Imperial Capital") today announced the launch of its initial public offering of 6,666,666 shares of Imperial Capital's class A common stock. The initial public offering price is expected to be between $15.00 and $17.00 per share. This is a primary offering of shares of class A common stock by Imperial Capital, and BofA Merrill Lynch, JMP Securities and Imperial Capital, LLC are serving as joint bookrunners for the offering. The underwriters have the option to purchase from Imperial Capital up to an additional 1,000,000 shares of class A common stock, on the same terms and conditions, to cover over-allotments, if any. Imperial Capital has been approved to have its common stock listed on the New York Stock Exchange, subject to notice of issuance, under the symbol "ICG."

Imperial Capital intends to use approximately $24.8 million of the net proceeds of this offering (assuming no exercise of the over-allotment option) to purchase approximately 1,666,666 partnership units in Imperial Capital Group, L.P. from ICGI Holdings, LLC. The remaining $74.4 million of the net proceeds of this offering will be contributed to Imperial Capital Group, L.P.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

The offering of the class A common stock will be made only by means of a prospectus. When available, a copy of the preliminary prospectus relating to this offering may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department or email Prospectus.Requests@ml.com, or JMP Securities, Prospectus Department, 600 Montgomery Street 11th Floor, San Francisco, CA 94111 or by telephone at (415) 835-8900 or Imperial Capital, LLC, Prospectus Department, 2000 Avenue of the Stars, 9th Floor, South Tower, Los Angeles, CA 90067.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy class A common stock of Imperial Capital, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Imperial Capital

Imperial Capital is a newly formed Delaware corporation that has been formed to hold the equity interests in, and manage the subsidiaries of, Imperial Capital Group, L.P. Imperial Capital is an investment banking firm with offices in Los Angeles, New York, San Francisco, Boston, Houston and Minneapolis. Imperial Capital offers sales and trading services to institutional investors and investment banking advisory, capital markets and restructuring services to middle market corporate clients and provides proprietary research, including bank debt, debt securities, hybrid securities, preferred and common equity and special situations claims.

Contact Information

  • Investor inquiries:
    Anna Halloran Jacob
    Imperial Capital Group, Inc.
    Tel: 310-246-3675