Ladenburg Thalmann Financial Services in $132.25 Million Preferred Stock Offering

Cleary Gottlieb represented Mitsubishi UFJ Securities (USA), Inc. as representative of the underwriters in a registered offering by Ladenburg Thalmann Financial Services Inc. of 4,600,000 shares of its 8.00% Series A Cumulative Redeemable Preferred Stock (Liquidation Preference $25.00 per share) (the “Series A Preferred Stock”). The offering was upsized from the original offering size of 2,000,000 shares. The underwriters exercised in full their option to purchase up to 690,000 shares of the Series A Preferred Stock to cover over-allotments. The offering launched on May 14, priced on May 20 and closed on May 24. The closing of the sale of the additional 690,000 shares took place on May 31, 2013.

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