Siebert Discount Broker - Announcements

Official Muriel Siebert & Co., Inc. announcements and press release page. Here you'll find links to the current list and archive of announcements released by the company.

 
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08/14/2017SIEBERT FINANCIAL CORP. SIEBERT FINANCIAL CORP. REPORTS SECOND QUARTER AND FIRST HALF 2017 FINANCIAL RESULTS
05/22/2017SIEBERT FINANCIAL CORP. Associates for Breast and Prostate Cancer Studies Honors Sharon Stone with Mother of the Year Award
05/15/2017SIEBERT FINANCIAL CORP. SIEBERT FINANCIAL CORP. ANNOUNCED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDING MARCH 31, 2017.
05/08/2017SIEBERT FINANCIAL CORP. SIEBERT FINANCIAL CORP. EXECUTES LETTER OF INTENT WITH STOCKCROSS FINANCIAL SERVICES
01/01/2017SIEBERT FINANCIAL CORP. SIEBERT FINANCIAL CORP. AND KENNEDY CABOT ACQUISITION, LLC ANNOUNCE DEFINITIVE AGREEMENT
01/01/2017SIEBERT FINANCIAL CORP. AND KENNEDY CABOT ACQUISITION, LLC New York Stock Exchange Dedicates Hall in Memory of Muriel F. Siebert, Its First Woman Member
 

SIEBERT FINANCIAL CORP.
SIEBERT FINANCIAL CORP. REPORTS SECOND QUARTER AND FIRST HALF 2017 FINANCIAL RESULTS
 

New York, NY, Monday, August 14, 2017

Recent Developments

  • Implementing Strategic Priorities to Further Position for Growth
  • Reducing Operational and Structural Costs
  • Expanding the Customer Experience through the Introduction of New Products and Technologies
Second Quarter Financial Highlights
  • Q2 Total Revenues $2.7 million, a 9.2% Increase from Q2 2016
  • Q2 Total Expenses $2.3 million, a decrease of 27.1% from Q2 2016
  • Q2 Net Income $365,000, as compared to a net loss of $728,000 for Q2 2016
First Half Financial Highlights
  • Total Revenues for the six months ended June 30, 2017 were $5.1 million, an increase of 2.2% from the same period in 2016
  • Total expenses for the six months ended June 30, 2017 were $4.6 million, a decrease of 24.9% from the same period in 2016
  • Net income of $424,000 for the six months ended June 30, 2017 as compared to a net loss of $1,229,000 from the same period in 2016
  • Stockholder’s Equity $3.8 million at June 30, 2017
  • Total Retail Customer Net Worth $7.3 billion at June 30, 2017, an increase of 6.2% as compared to the same period in 2016

New York, NY—August 14, 2017—Siebert Financial Corp. (NASDAQ: SIEB ) today reported financial results for the three and six months ended June 30, 2017.

Gloria E. Gebbia, majority shareholder and board member of Siebert Financial said, “I am very pleased with our financial results for the first half of 2017. We have made significant progress with our core strategy of driving long term shareholder value by improving our technology infrastructure, streamlining operations and introducing new products and services to enhance the customer experience.”

Following the change of ownership in December 2016, Siebert Financial Corp. has continued to serve clients throughout the United States and globally. The firm is dedicated to the core value of integrity and the safety of investments as first established in 1967 by founder Muriel Siebert.

“Our management team including Andrew Reich has worked to realize certain economies of scale and collective benefit with the purpose of increasing revenue and being profitable, and as a result, we have been able to reduce relative costs. We are strongly committed to building a world-class firm dedicated to serving client financial needs, and I am delighted with the activities underway which will position us strongly for the future,” she added.

For additional information, please refer to our Quarterly Report on Form 10-Q for the period ended June 30, 2017 filed with the SEC on August 14, 2017. You may also access the Form 10-Q through our website

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About Siebert Financial Corp.

Siebert Financial is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. The firm became a member of the NYSE in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. In addition, in 2014 the Company began business as a registered investment advisor through a wholly-owned subsidiary, Siebert Investment Advisors, Inc. Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL and Jersey City, NJ.www.siebertnet.com

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Cautionary note regarding forward-looking statements

Statements in this press release that are not statements of historical or current fact constitute “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and known and unknown factors that could cause the actual results of the Siebert Financial Corp. (the “Company”) to be materially different from historical results or from any future results expressed or implied by such forward looking statements, including without limitation: changes in general economic and market conditions; changes and prospects for changes in interest rates; fluctuations in volume and prices of securities; changes in demand for brokerage services; competition within and without the brokerage business, including the offer of broader services; competition from electronic discount brokerage firms offering greater discounts on commissions than the Company; the prevalence of a flat fee environment; limited trading opportunities; the method of placing trades by the Company’s customers; computer and telephone system failures; the level of spending by the Company on advertising and promotion; trading errors and the possibility of losses from customer non-payment of amounts due; other increases in expenses and changes in net capital or other regulatory requirements. As a result of these and other factors, the Company may experience material fluctuations in its operating results on a quarterly or annual basis, which could materially and adversely affect its business, financial condition, operating results, and stock price, as well as other risks detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). Accordingly, investors are cautioned not to place undue reliance on any such “forward-looking statements. The Company undertakes no obligation to update the information contained herein or to publicly announce the result of any revisions to such “forward-looking statements” to reflect future events or developments. An investment in the Company involves various risks, including those mentioned above and those, which are detailed from time to time in the Company’s SEC filings, copies of which may be obtained from the Company or through the SEC’s website.

Notice to Investors

This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.








FOR:

SIEBERT FINANCIAL CORP.

120 Wall Street, 25th Floor,
New York, NY 10005

Investors Please Contact:
Siebert Financial Corp.
Office of the Administrator
Yesenia Berdugo
Tel: 212-644-2435

Media Please Contact:
Laura Hynes-Keller
LHK Communications LLC
1500 Broadway, Ste. 505, New York, NY 10036
Tel: 212-758-8602
E: laurahk@lhkcommunications.com

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SIEBERT FINANCIAL CORP.
Associates for Breast and Prostate Cancer Studies Honors Sharon Stone with Mother of the Year Award
 

Beverly Hills, CA, Monday, May 22, 2017

The Associates for Breast and Prostate Cancer Studies (ABC's) honored Sharon Stone with its Mother of the Year Award during its 16th Annual Mother's Day luncheon hosted by ABC's president Gloria E. Gebbia in Beverly Hills on May 10, 2017. Celebrity stylist Chaz Dean was presented with the Humanitarian Award.

“Both our honorees are incredible role models and have demonstrated a long-standing commitment to health and wellness in the community,” said Gloria Gebbia, president of the ABC’s. “Their mutual commitment to giving back through a host of worthwhile endeavors symbolize the very best of what our Achievement Awards represent.”

In addition to her philanthropic work, Gloria E. Gebbia is board director and majority shareholder of Siebert Financial Corp., [Nasdaq: SIEB] founded in 1967 by the late Muriel F. Siebert, the first woman to own a seat on the New York Stock Exchange and the first woman to head a NYSE member firm. Gloria E. Gebbia, along with the Gebbia family, has been involved with financial services companies since the early 1970's and during such time they built a broker-dealer into a national brand, which they sold to Toronto Dominion Bank in 1997.

The ABC's devotes all its resources through fundraising to eradicating breast and prostate cancer in support of key research studies at the John Wayne Cancer Institute (JWCI) at Saint John's Health Center in Los Angeles, CA. Since its inception in 1990, the ABC's has raised more than $16 million in support of JWCI.

Gloria E. Gebbia said, “Because cancer impacts so many families, we chose the theme of Mother’s Day to underscore the cancer fighting initiatives underway at the John Wayne Cancer Institute. We are grateful to all of the supporters, sponsors and volunteers of the ABC's, who sustain and support the lifesaving research underway there, and invite others to join our endeavor to eradicate cancer, which does not discriminate and impacts people across all socio-economic and other demographics.”

For example, according to the National Institute of Health (NIH), new research shows the number of women in the United States living with distant metastatic breast cancer, the most severe form of the disease, is growing. The study also shows that despite the poor prognosis of MBC, survival of women initially diagnosed with MBC has been increasing, especially among women diagnosed at younger ages.

Sponsors for the luncheon held at the Four Seasons Beverly Hills included the John Wayne Cancer Institute, StockCross Financial Services, Siebert Financial Corp., Saint John's Health Center, Total Financial, Four Seasons Hotels and Resorts, Arizona Premium Finance Company, Deitz International, Patterson Life and Sands & Associates.

Previous ABC's Mother's Day honorees and supporters have included Gloria Allred, Lorraine Toussaint, Donna Mills, Brandi Glanville, Chandra Wilson, Holly Robinson Peete, Dolores Robinson, Amber Valletta, Kris Jenner, Guiliana Rancic, Jillian Reynolds, Ricardo Antonio Chavira, Lisa Rinna, Louis Gossett Jr., Nolan Miller, Cocoa Brown and Lisa Ann Walter.

Patrick Wayne, Chairman of the John Wayne Cancer Institute said, “The ABC’s, led by Gloria E. Gebbia, is a dynamic group which plays an extraordinary role in funding vital medical research at JWCI, which has produced tangible results over the years. Yet there is still a great deal of crucial work to be done in cancer prevention, detection and treatment, and our commitment to finding cures is unwavering.”

Since 1981, the John Wayne name has been committed by the Wayne Family to leading-edge cancer research and education in memory of their late father, legendary actor John Wayne. Today, the tradition of excellence continues as JWCI spearheads new research advances while training the next generation of surgical oncologists. The Institute conducts multidisciplinary basic, clinical and translational research on many complex cancer problems, focusing in particular on melanoma, breast cancer, prostate cancer, colon cancer, neuroendocrine cancer, gastro-intestinal cancer and sarcoma.

Gloria E. Gebbia and the ABC's are slated to host the 28th Annual Talk of The Town Gala in Los Angeles on November 18, 2017, also in support of the work of the JWCI.

"We are very excited about our next Talk of the Town gala, as we have special guests and surprises lined up for a fabulous evening in support of this most important work," she added.

# # #

About the ABC’s and John Wayne Cancer Institute

The ABC’s officially established in 1990, was born out of a group of dedicated philanthropists who had originally been associated with the Eddie Cantor Charitable Foundation, which supported a variety of charities. This group evolved into the ABC’s in order to devote all its resources to eradicating breast and prostate cancer. Today, the ABC’s organization is comprised of close to 200 men and women who reside mainly in the Los Angeles Westside area. Many are highly successful professionals in a variety of fields, including the entertainment industry.

The ABC’s has a long and fruitful partnership with the John Wayne Cancer institute. Over the years raising over $16 million dollars to support the institutes research in advancing the treatment and detection of both breast and prostate cancer. The Center now has over 7,500 patients per year and has focused on offering women an invaluable resource of doctors for breast cancer awareness, detection, treatment, and research. Through the years, the Center has become a leader in the field, providing a model for breast centers around the nation. The Center is unique in its ability to combine the knowledge, expertise, and technology of the finest academic institutions with the warmth, attention to personal care, and comfortable surroundings of a familiar, community-oriented health center.

Please visit us on Facebook at https://www.facebook.com/ABCs-352609448404976/

Follow us on Twitter: https://twitter.com/_ABCJW



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SIEBERT FINANCIAL CORP.
SIEBERT FINANCIAL CORP. ANNOUNCED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDING MARCH 31, 2017.
 

New York, NY, Monday, May 15, 2017 Gloria E. Gebbia, majority shareholder and board member of Siebert Financial said, “We are pleased with our first quarter results as we focus on streamlining operations and rebuilding our infrastructure. Siebert founder Muriel ‘Mickie’ Siebert was a visionary who built a great business. This is a wonderful enterprise, and we are committed to serving our clients’ financial needs with superior customer service and product development to help them achieve their wealth management objectives.”

Immediately following the change in ownership in December 2016, under the direction of our strong management team and Andrew Reich, we began to execute the strategic plan of the Company’s business including streamlining the firm’s operations, rebuilding the firm’s technologic infrastructure to prepare for growth, moving the firm’s call center and adjusting the firm’s cost structure. The results of these efforts were reported in the Company’s Form 10-Q for the first quarter of 2017. “We are proud of those results and our being profitable in the first quarter of 2017,” added Gloria Gebbia.

For additional information, please refer to our Quarterly Report on Form 10-Q for the period ended March 31, 2017 filed with the SEC on May 12, 2017. You may also access the Form 10-Q through our website.

About Siebert Financial Corp.

Siebert Financial is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. The firm became a member of the NYSE in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. In addition, in 2014 the Company began business as a registered investment advisor through a wholly-owned subsidiary, Siebert Investment Advisors, Inc. Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL and Jersey City, NJ. www.siebertnet.com

Cautionary note regarding forward-looking statements

Statements in this press release that are not statements of historical or current fact constitute “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and known and unknown factors that could cause the actual results of the Siebert Financial Corp. (the “Company”) to be materially different from historical results or from any future results expressed or implied by such forward looking statements, including without limitation: changes in general economic and market conditions; changes and prospects for changes in interest rates; fluctuations in volume and prices of securities; changes in demand for brokerage services; competition within and without the brokerage business, including the offer of broader services; competition from electronic discount brokerage firms offering greater discounts on commissions than the Company; the prevalence of a flat fee environment; limited trading opportunities; the method of placing trades by the Company’s customers; computer and telephone system failures; the level of spending by the Company on advertising and promotion; trading errors and the possibility of losses from customer non-payment of amounts due; other increases in expenses and changes in net capital or other regulatory requirements. As a result of these and other factors, the Company may experience material fluctuations in its operating results on a quarterly or annual basis, which could materially and adversely affect its business, financial condition, operating results, and stock price, as well as other risks detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). Accordingly, investors are cautioned not to place undue reliance on any such “forward-looking statements. The Company undertakes no obligation to update the information contained herein or to publicly announce the result of any revisions to such “forward-looking statements” to reflect future events or developments. An investment in the Company involves various risks, including those mentioned above and those, which are detailed from time to time in the Company’s SEC filings, copies of which may be obtained from the Company or through the SEC’s website.

Notice to Investors

This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.

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Investors Please Contact:
Siebert Financial Corp.
Yesenia Berdugo, 212-644-2435
Office of the Administrator

or

Media Please Contact:
LHK Communications LLC
Laura Hynes-Keller, 212-758-8602
laurahk@lhkcommunications.com

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SIEBERT FINANCIAL CORP.
SIEBERT FINANCIAL CORP. EXECUTES LETTER OF INTENT WITH STOCKCROSS FINANCIAL SERVICES
 

New York, NY, Monday, May 8, 2017 New York, NY—May 8, 2017—Siebert Financial Corp. (NASDAQ: SIEB) today announced the execution of a non-binding letter of intent with its affiliate, StockCross Financial Services, Inc., to acquire approximately $4 billion in customer assets of its retail securities business and the transfer of its seasoned, experienced nationwide sales force. Upon completion of the transaction, Siebert Financial will increase its total customer assets to over $11 billion with 11 retail branches nationwide.

Gloria E. Gebbia, majority shareholder and board member of Siebert Financial said, "The addition of these financial and other assets from StockCross demonstrate our commitment to growth and allow our firm to continue its revamping for the realization of certain economies of scale, with the aim of increasing revenue, reducing costs and being profitable."

Siebert Financial's principal activity is providing online and traditional discount brokerage and related services to retail investors through Muriel Siebert & Co., Inc., its broker-dealer, and as a registered investment advisor through its Siebert Investment Advisors business unit.

Gloria Gebbia added, "The addition of these key assets will broaden our efforts at Siebert Financial to serve our client financial needs nationally, while engaging our relationships more deeply to help both new and existing clients meet their wealth management objectives."

Gloria Gebbia and her family are the majority owners of StockCross, a broker-dealer member of FINRA with offices across the United States.

Under the terms of the LOI, the transaction is subject to satisfying regulatory requirements as a closing condition.

Under the proposed arrangement, Siebert Financial will exchange a number of its common shares as determined by an outside party, Manorhaven Capital, LLC, according to a fairness opinion. The shares to be issued for the purchase will be dilutive to all shareholders, including the current majority shareholders, who own 92% of Siebert Financial stock.

The transaction, which is slated to close in the second half of 2017, is subject to regulatory approval.

The StockCross sales force includes approximately 40 registered representatives and support staff located in branch offices in Beverly Hills, CA; Calabasas, CA; Seal Beach, CA; Philadelphia, PA; Dallas, TX and Houston, TX.

The Gebbia family has been successfully involved with financial services companies since the early 1970's and during such time they built a broker-dealer into a national brand, which they sold to Toronto Dominion Bank in 1997. Gloria Gebbia is also the President of the Associates for Breast and Prostate Cancer Studies which raises funds for the John Wayne Cancer Institute. Through Gloria Gebbia's leadership since 1998 over $15 million has been raised for cancer research studies.

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About Siebert Financial Corp.

Siebert Financial is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. The firm became a member of the NYSE in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. In addition, in 2014 the Company began business as a registered investment advisor through a wholly-owned subsidiary, Siebert Investment Advisors, Inc. Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL and Jersey City, NJ. www.siebertnet.com

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Cautionary note regarding forward-looking statements

Statements in this press release that are not statements of historical or current fact constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and known and unknown factors that could cause the actual results of the Siebert Financial Corp. (the "Company") to be materially different from historical results or from any future results expressed or implied by such forward looking statements, including without limitation: changes in general economic and market conditions; changes and prospects for changes in interest rates; fluctuations in volume and prices of securities; changes in demand for brokerage services; competition within and without the brokerage business, including the offer of broader services; competition from electronic discount brokerage firms offering greater discounts on commissions than the Company; the prevalence of a flat fee environment; limited trading opportunities; the method of placing trades by the Company's customers; computer and telephone system failures; the level of spending by the Company on advertising and promotion; trading errors and the possibility of losses from customer non-payment of amounts due; other increases in expenses and changes in net capital or other regulatory requirements. As a result of these and other factors, the Company may experience material fluctuations in its operating results on a quarterly or annual basis, which could materially and adversely affect its business, financial condition, operating results, and stock price, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission ("SEC"). Accordingly, investors are cautioned not to place undue reliance on any such "forward-looking statements." The Company undertakes no obligation to update the information contained herein or to publicly announce the result of any revisions to such "forward-looking statements" to reflect future events or developments. An investment in the Company involves various risks, including those mentioned above and those, which are detailed from time to time in the Company's SEC filings, copies of which may be obtained from the Company or through the SEC's website.

Notice to Investors

This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.

FOR: SIEBERT FINANCIAL CORP.
120 Wall Street 25th Floor
New York, NY 10005

Investors Please Contact:
Siebert Financial Corp.
Office of the Administrator
Tel: 212-644-2435

Media Please Contact:
Laura Hynes-Keller
LHK Communications LLC
1500 Broadway, Ste. 505, New York, NY 10036
Tel: 212-758-8602 E: laurahk@lhkcommunications.com

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SIEBERT FINANCIAL CORP.
SIEBERT FINANCIAL CORP. AND KENNEDY CABOT ACQUISITION, LLC ANNOUNCE DEFINITIVE AGREEMENT
 

New York, NY, Sunday, January 1, 2017 New York, NY and Beverly Hills, CA—September 2, 2016—Siebert Financial Corp. (NASDAQ: SIEB) and Kennedy Cabot Acquisition, LLC are pleased to announce they have entered into a definitive agreement under which Kennedy Cabot Acquisition will acquire approximately 90% of the outstanding common stock of Siebert Financial Corp. from the Estate of Muriel F. Siebert. Siebert Financial is the owner of Muriel Siebert & Co., Inc., the broker-dealer founded in 1967 by the late Muriel F. 'Mickie' Siebert, the first woman to own a seat on the New York Stock Exchange and the first woman to head a NYSE member firm.

Jane Macon, the Chairwoman of Siebert Financial said, 'We look forward to a smooth transition and are pleased that the enduring vision and legacy established by Mickie Siebert nearly fifty years ago will continue into the future.'

Gloria E. Gebbia, the owner and managing member of Kennedy Cabot Acquisition said, 'The team being assembled at Kennedy Cabot Acquisition has many years of experience in the brokerage industry including successfully acquiring and growing broker-dealers and bring a strong and experienced management team to Siebert Financial Corp.'

Under the terms of the agreement, Kennedy Cabot Acquisition will make a tender offer for the outstanding common stock of Siebert Financial not owned by the Estate. Holders of Siebert Financial shares may accept the tender offer and sell their shares or not tender their shares and remain shareholders of Siebert Financial. The closing of the sale and the tender offer is expected to occur in the fourth quarter of 2016, conditioned upon approval by the Financial Industry Regulatory Authority (FINRA).

Prior to closing, Siebert Financial anticipates paying a dividend to all Siebert Financial shareholders in the amount of approximately $0.20 per share.

Siebert Financial’s principal activity is providing online and traditional discount brokerage and related services to retail investors through the broker-dealer, and serves as a registered investment advisor through its Siebert Investment Advisors business unit.

Siebert Financial considers the sale to Kennedy Cabot Acquisition to be the strongest strategic alternative to continue the company and maximize shareholder value in the wake of the 2013 passing of Muriel F. 'Mickie' Siebert, Siebert Financial’s founder and former Chairwoman, President and Chief Executive Officer.

Kennedy Cabot Acquisition plans to continue to build upon the strong existing foundation at Siebert Financial to further strengthen the customer experience. The acquisition agreement does not provide for the merger of Siebert Financial with or into Kennedy Cabot Acquisition.

Mrs. Gebbia added, 'Speaking for myself and the other principals of Kennedy Cabot Acquisition, we are all very excited about the acquisition and embrace the opportunity not only to expand the business but also to build a world-class financial firm dedicated to serving client financial needs.'

Mrs. Gebbia and her family are the majority owners of StockCross Financial Services, Inc. The Gebbia family has been successfully involved with financial services companies since the early 1970's and during such time they built a broker-dealer into a national brand, which they sold to Toronto Dominion Bank in 1997. Mrs. Gebbia is also the President of the Associates for Breast and Prostate Cancer Studies which raises funds for the John Wayne Cancer Institute. Through Mrs. Gebbia’s leadership since 1998 over $14 million has been raised for cancer research studies.

#   #   #


About Siebert Financial Corp.
Siebert Financial is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. The firm became a member of the NYSE in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. In addition, in 2014 the Company began business as a registered investment advisor through a wholly-owned subsidiary, Siebert Investment Advisors, Inc. Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL and Beverly Hills, CA. www.siebertnet.com

About Kennedy Cabot Acquisition
Kennedy Cabot Acquisition is a Nevada limited liability company. The principals of Kennedy Cabot Acquisition have substantial experience in the brokerage industry and are/were affiliates of StockCross Financial Services, Inc. StockCross is a broker-dealer member of FINRA with offices across the United States.

Cautionary note regarding forward-looking statements
This communication contains 'forward-looking statements' (as defined in the Securities Litigation Reform Act of 1995) regarding, among other things, future events. Words such as 'anticipate,' 'expect,' 'intend,' 'believe,' and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. Forward-looking statements relating to the proposed transactions include, but are not limited to: statements about the benefits of the proposed transactions; Siebert Financial’s and Kennedy Cabot Acquisition’s plans, objectives, expectations and intentions; the expected timing of completion of the proposed transactions; and other statements relating to the transactions that are not historical facts. Forward-looking statements are based on information currently available to Siebert Financial and Kennedy Cabot Acquisition, as the case may be, and involve estimates, expectations and projections. Investors are cautioned that all such forward-looking statements are subject to risks and uncertainties, and important factors could cause actual events or results to differ materially from those indicated by such forward-looking statements. With respect to the proposed transactions between Siebert Financial and Kennedy Cabot Acquisition, these risks and factors could include, but are not limited to: securing regulatory approval; the risk that a condition to closing may be delayed or may not be satisfied; the diversion of management time on transaction-related issues; changes in the general economic environment, or social or political conditions, that could affect the business of Siebert Financial and the Broker-Dealer; and the potential impact of the announcement or consummation of the proposed transactions on relationships with customers, competitors, management and other employees.

Additional information concerning other risk factors is also contained in Siebert Financial’s most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other SEC filings.

Notice to Investors
This communication is provided for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities of Siebert Financial. The tender offer for the outstanding common stock of Siebert Financial not owned by the Estate has not yet commenced. Any offers to purchase or solicitation of offers to sell will be made only pursuant to the tender offer statement (including the offer to purchase, the letter of transmittal and other documents relating to the tender offer) which will be filed on Schedule TO by Kennedy Cabot Acquisition with the SEC, and soon thereafter Siebert Financial will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Siebert Financial’s shareholders are advised to read these documents and any other documents relating to the tender offer that will be filed with the SEC carefully and in their entirety because they contain important information. Siebert Financial’s shareholders may obtain copies of these documents for free at the SEC’s website at www.sec.gov or by contacting Siebert Financial’s investor relations department at Siebert Financial Corp., 885 Third Avenue, New York, New York 10022, Attention: Investor Relations.

FOR: SIEBERT FINANCIAL CORP.

885 Third Avenue Suite 3100
New York, NY 10022


Media: Rubenstein
Marcia Horowitz Phone: 212-843-8014 Email: mhorowitz@rubenstein.com

Laura Hynes-Keller
LHK Communications LLC / New York
Phone: +1 646 797 6992 Email: laurahk@lhkcommunications.com


FOR: KENNEDY CABOT ACQUISITION, LLC

Media: Martin H. Kaplan, Gusrae Kaplan Nusbaum PLLC / New York
Phone: (212) 514-8369 Email: kcacquisition@gmail.com

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SIEBERT FINANCIAL CORP. AND KENNEDY CABOT ACQUISITION, LLC
New York Stock Exchange Dedicates Hall in Memory of Muriel F. Siebert, Its First Woman Member
 

New York, NY, Sunday, January 1, 2017 NEW YORK & LOS ANGELES--()--Siebert Financial Corp. (Nasdaq:SIEB) and Kennedy Cabot Acquisition, LLC today announced the dedication of Siebert Hall at the New York Stock Exchange (NYSE) in honor of the late Muriel F. “Mickie” Siebert, who became the first woman to both own a seat on the NYSE and head one of its member firms, Muriel Siebert & Co., Inc., on December 28, 1967.

Jane Macon, Chair of Siebert Financial Corp. said, “Mickie liked to say that she came to New York City ‘with $500 and a used Studebaker.’ She overcame tremendous challenges to become a legendary Wall Street trailblazer, recognized as the ‘First Woman of Finance.’ We are delighted Mickie’s contributions have been acknowledged by the NYSE in such a historic way.”

The dedication of Siebert Hall is the first time a room at the NYSE, designated a National Historic Landmark in 1978, has been named after an individual.

Hosted by Tom Farley, NYSE Group President, the room features memorabilia from Mickie Siebert’s career gifted to the NYSE by the Estate of Muriel F. Siebert.

“When Mickie became the first female member of the NYSE in 1967, she shattered a glass ceiling on Wall Street,” said Farley. “So, when it came time to dedicate our newly-renovated meeting hall - a contemporary counterpart to our more traditional Boardroom - the progressive and ground-breaking Mickie was the obvious choice.” Gloria E. Gebbia, owner and managing member of Kennedy Cabot Acquisition said, “Mickie Siebert was courageous, savvy and pioneering, both as a woman and as a business person. My family and I are proud and humbled to continue her professional and charitable legacy. We believe she would be very pleased that the Gebbia family shares her passion for worthwhile causes.”

Muriel Siebert, who died in 2013, was also a pioneer in the discount brokerage field, transforming her firm into a discount brokerage in 1975 on the first day NYSE members were allowed to negotiate commissions. In 1977, she put her firm in a blind trust to serve as New York State’s first woman Superintendent of Banking for five years, and under her watch, not a single banking institution failed.

Throughout her career, Muriel Siebert was actively involved with a wide range of non-profit, civic and women’s organizations. In keeping with her personal vision, she worked tirelessly throughout her career to promote financial literacy.

Among Muriel Siebert’s many achievements, through the Muriel F. Siebert Foundation she focused on the development of the "Siebert Personal Finance Program: Taking Control of Your Financial Future,” a financial literacy program which has improved the lives of innumerable middle and high school students and adults by teaching them essential financial skills.

Muriel Siebert, who attended, but did not graduate from what is now known as Case Western Reserve University in her home town of Cleveland, Ohio, was awarded approximately twenty honorary doctorates and received multiple other awards and honors throughout her life.

She was described by the Encyclopedia Britannica as an “American business executive whose successful ventures in the realm of high finance helped expand opportunities for women in that field.” Muriel Siebert was chosen by Scholastic Inc., for its compendium, “100 People Who Changed America.” Other honors include the National Association of Women Business Owners First Signature Award for Lifetime Achievement as a pioneering women’s business owner; the National Museum of Women in the Arts which saluted her as a pioneer who has broken ground for women in civil society; and, acknowledgement from the Center for Educational Innovation-Public Education Association (CEI-PEA) for promoting financial literacy. Muriel Siebert was inducted into Junior Achievement’s U.S. Business Hall of Fame in 2009 and is featured in the “Women and Wall Street” permanent collection exhibit at the Museum of American Finance.

As the first woman selected as "one who has made a difference" for the Working Women's Hall of Fame, she was inducted into the National Women's Hall of Fame and The International Women's Forum International Hall of Fame. Muriel Siebert received The Athena Foundation's highest award given to those “who open the doors of leadership opportunity for women.” Among other honors, she received the Pride of New York Award, and, for championing financial literacy, both the First Lifetime Achievement Award from the New Jersey Coalition for Financial Education and the Eleanor Roosevelt Val-Kill Medal Award.

Muriel Siebert was widely interviewed on subjects pertaining to the financial system and markets. She testified on behalf of individual investors before Congress and her opinion was requested by the White House and policymakers at the highest levels of the US government on many substantive issues related to the financial services system and economy.

In November 2002, Simon and Schuster published her autobiography, Changing the Rules – Adventures of a Wall Street Maverick.

About Siebert Financial Corp.

Siebert Financial is a holding company that conducts its retail discount brokerage business through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. The firm became a member of the NYSE in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. In addition, in 2014 the Company began business as a registered investment advisor through a wholly-owned subsidiary, Siebert Investment Advisors, Inc. Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL and Beverly Hills, CA. www.siebertnet.com

About Kennedy Cabot Acquisition

Kennedy Cabot Acquisition is a Nevada limited liability company. The principals of Kennedy Cabot Acquisition have substantial experience in the brokerage industry and are/were affiliates of StockCross Financial Services, Inc. StockCross is a broker-dealer member of FINRA with offices across the United States.

Cautionary note regarding forward-looking statements

This communication contains “forward-looking statements” (as defined in the Securities Litigation Reform Act of 1995) regarding, among other things, future events. Words such as “anticipate,” “expect,” “intend,” “believe,” and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. Forward-looking statements relating to the proposed transactions include, but are not limited to: statements about the benefits of the proposed transactions; Siebert Financial’s and Kennedy Cabot Acquisition’s plans, objectives, expectations and intentions; the expected timing of completion of the proposed transactions; and other statements relating to the transactions that are not historical facts. Forward-looking statements are based on information currently available to Siebert Financial and Kennedy Cabot Acquisition, as the case may be, and involve estimates, expectations and projections. Investors are cautioned that all such forward-looking statements are subject to risks and uncertainties, and important factors could cause actual events or results to differ materially from those indicated by such forward-looking statements. With respect to the proposed transactions between Siebert Financial and Kennedy Cabot Acquisition, these risks and factors could include, but are not limited to: securing regulatory approval; the risk that a condition to closing may be delayed or may not be satisfied; the diversion of management time on transaction-related issues; changes in the general economic environment, or social or political conditions, that could affect the business of Siebert Financial and the Broker-Dealer; and the potential impact of the announcement or consummation of the proposed transactions on relationships with customers, competitors, management and other employees.

Additional information concerning other risk factors is also contained in Siebert Financial’s most recently filed Annual Reports on Form 10-K, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other SEC filings.

Notice to Investors

This communication is provided for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities of Siebert Financial. The tender offer for the outstanding common stock of Siebert Financial not owned by the Estate has not yet commenced. Any offers to purchase or solicitation of offers to sell will be made only pursuant to the tender offer statement (including the offer to purchase, the letter of transmittal and other documents relating to the tender offer) which will be filed on Schedule TO by Kennedy Cabot Acquisition with the SEC, and soon thereafter Siebert Financial will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Siebert Financial’s shareholders are advised to read these documents and any other documents relating to the tender offer that will be filed with the SEC carefully and in their entirety because they contain important information. Siebert Financial’s shareholders may obtain copies of these documents for free at the SEC’s website at www.sec.gov or by contacting Siebert Financial’s investor relations department at Siebert Financial Corp., 885 Third Avenue, New York, New York 10022, Attention: Investor Relations.



Siebert Financial Corp.

Media:
Rubenstein
Marcia Horowitz, 212-843-8014
mhorowitz@rubenstein.com
or
LHK Communications LLC / New York
Laura Hynes-Keller, +1- 212-758 8602 / +1-646-797 6992
laurahk@lhkcommunications.com
or

Kennedy Cabot Acquisition, LLC

Media:
Gusrae Kaplan Nusbaum PLLC / New York
Martin H. Kaplan, 212-514-8369
kcacquisition@gmail.com





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