Followers | 240 |
Posts | 12053 |
Boards Moderated | 0 |
Alias Born | 04/05/2009 |
Wednesday, May 18, 2011 12:05:13 PM
DALLAS, May 18, 2011 /PRNewswire/ -- SWS Group, Inc. (NYSE: SWS) announced that at the Company's special meeting of stockholders held today, SWS Group's stockholders voted to approve the proposed $100 million capital raise with Hilltop Holdings Inc. (NYSE: HTH) and Oak Hill Capital Partners.
"We are pleased that today's vote overwhelmingly reaffirmed the unanimous recommendation of the Board of Directors and confirmed the Board's view that this investment is in the best interest of stockholders and the future of SWS Group," said James H. Ross, Chief Executive Officer of SWS Group. "On behalf of the Board of Directors and management team, I want to thank our stockholders, customers and dedicated employees for their support throughout this process. We look forward to completing this transaction as soon as possible and continuing to meet the needs of our customers for many years to come."
As previously announced, Hilltop and Oak Hill Capital have each agreed to make a $50 million loan to SWS Group, and SWS Group agreed to issue each of Hilltop and Oak Hill Capital a warrant to purchase shares of common stock of SWS Group. Upon exercise of the warrants, Hilltop Holdings and Oak Hill Capital would each own approximately 17 percent of the Company.
The capital raise is conditioned on requisite regulatory approvals or consents and satisfaction of customary conditions. The transaction is expected to close as soon as practicable following receipt of regulatory approval.
Sandler O'Neill + Partners, L.P., is serving as financial advisor to SWS Group, and Andrews Kurth LLP is serving as its legal advisor.
About SWS Group
SWS Group, Inc. is a Dallas-based company offering a broad range of investment and financial services through its subsidiaries. The Company's common stock is listed and traded on the New York Stock Exchange under the symbol SWS. SWS Group, Inc. subsidiaries include Southwest Securities, Inc., a national clearing firm, registered investment adviser and registered broker-dealer; SWS Financial Services, Inc., a registered investment adviser and a registered broker-dealer serving independent securities brokers and their clients, and Southwest Securities, FSB, one of the largest banks headquartered in the Dallas-Fort Worth metropolitan area.
http://www.prnewswire.com/news-releases/sws-group-stockholders-approve-100-million-capital-raise-with-hilltop-holdings-and-oak-hill-capital-partners-122153454.html
If you aren't an Enterprising Investor, become one—you'll love making money like Benjamin Graham.
Recent HTH News
- Hilltop Holdings Inc. Announces Key Leadership Changes at PlainsCapital Bank • Business Wire • 05/01/2024 12:30:00 PM
- Hilltop Holdings Inc. Announces Financial Results for First Quarter 2024 • Business Wire • 04/18/2024 08:45:00 PM
- Hilltop Holdings Inc. Announces First Quarter 2024 Earnings Conference Call and Webcast • Business Wire • 04/12/2024 09:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:19:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:16:06 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:15:05 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 11:31:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 11:30:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 11:29:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 11:29:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 11:29:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 11:29:05 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/22/2024 10:15:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 12:26:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 12:26:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 12:25:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 12:24:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 12:24:15 PM
- HilltopSecurities Names Jason Lisec Head of Fixed Income Capital Markets • Business Wire • 02/07/2024 10:00:00 PM
- Hilltop Holdings Inc. Announces Financial Results for Fourth Quarter and Full Year 2023 • Business Wire • 01/25/2024 09:45:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 09:32:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 09:30:17 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/23/2024 09:13:56 PM
- Hilltop Holdings Inc. Announces Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast • Business Wire • 01/15/2024 01:00:00 PM
- HilltopSecurities Welcomes Senior Managing Director Michele Vobach and Team of Five Public Finance Professionals • Business Wire • 01/11/2024 10:00:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM