Freedom Holding Corp (FRHC)

[Quintessence]

FRHC up 18% pre-market! The news is being well received!

Freedom Holding Corp. Enters into Agreement to Acquire Investment Bank Maxim Group to Expand U.S. Presence
8:00 am ET February 16, 2023 (BusinessWire)

Freedom Holding Corp. (Nasdaq: FRHC), a diversified multi-national financial services firm, announced today that it has reached a definitive agreement to acquire Maxim Group LLC and its registered investment advisory affiliate Maxim Financial Advisors LLC (together "Maxim Group"), for a combination of cash and common stock. Including deferred payments and retention bonuses, the total consideration for the acquisition will be approximately $400 million (USD). Freedom continues its strategy of acquisitions following its 2020 purchase of Prime Executions, Inc., an institutional trading firm with operations on the floor of the New York Stock Exchange which was recently approved to conduct investment banking and equity capital market businesses under Freedom Capital Markets.