Morgan Group Holding Co (MGHL)

[Special Situations]

G.research LLC Receives FINRA Approval for Morgan Group Merger.

October 01, 2019 09:00 AM Eastern Daylight Time

RYE, New York--(BUSINESS WIRE)--G.research, LLC, a subsidiary of Associated Capital Group, (NYSE: AC), announced today that FINRA approved its Continuing Membership Application (CMA) permitting Morgan Group Holding Co. as the direct owner of G.research. G.research provides institutional research and trade execution services to hedge funds, mutual funds and other institutional money managers.

In May, the Board of Associated Capital Group formed a special committee to negotiate a transaction between G.research and Morgan Group Holding Co. The transaction remains subject to accounting and other regulatory dynamics as well as finalizing other conditions prior to closing. No assurance can be given that a transaction will be consummated.

About Associated Capital Group, Inc.

The Company operates its investment management business via Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.), its 100% owned subsidiary. GCIA and its wholly-owned subsidiary, Gabelli & Partners, collectively serve as general partners or investment managers to investment funds including limited partnerships, offshore companies and separate accounts. The Company primarily manages assets in equity event-driven strategies, across a range of risk and event arbitrage portfolios and earns management and incentive fees from its advisory activities. GCIA is registered with the Securities and Exchange Commission as an investment advisor under the Investment Advisers Act of 1940, as amended.

The Company operates its institutional research services business through G.research, LLC, an indirect wholly-owned subsidiary of the Company. G.research is a broker-dealer registered under the Securities Exchange Act of 1934, as amended, that provides institutional research services and acts as an underwriter.

The Company also derives investment income/(loss) from proprietary trading of assets awaiting deployment in its operating businesses.


https://www.businesswire.com/news/home/20191001005308/en/