RCS Capital Corporation (NYSE: RCAP) announced financial results for the quarter ending September 31st. Q3 EPS was stated at $0.10. This missed analyst expectations by $0.03/share. Revenue for the quarter stood at$589.6 million or, excluding $48.7 non-cash revenue, $540.9 million. The release comes on the heal’s… Read More
Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo“) (NYSE: APO) and RCS Capital Corporation (NYSE: RCAP) (“RCS Capital”) announced today that they have mutually agreed to amend the previously announced sale of the RCS Capital wholesale distribution business and certain related entities, to… Read More
RCS Capital Corporation (“RCS Capital”) (NYSE: RCAP) announced the closing of its previously announced private placement of $37.5 million of newly issued convertible preferred stock. In addition, RCS Capital revealed the addition of Marc Rowan, co-founder of Apollo Global Management, LLC (together with its subsidiaries, “Apollo”) (NYSE: APO), and Anthony… Read More
RCS Capital Corporation (NYSE: RCAP) (“RCS Capital”) announced on Tuesday that it has agreed with its first and second lien lenders under its existing credit facilities to certain leverage ratio covenant amendments in addition to other modifications. Michael Weil, Chief Executive Officer of RCS Capital, commented: “We… Read More
Docupace Technologies, LLC (“Docupace”), a provider of SEC/FINRA-compliant paperless processing systems, announced today that it is joining with leading computer security services company Security Snapshot, LLC (“Security Snapshot”) to deliver comprehensive cyber-security solutions for financial services firms. The agreement is expected to fuse Docupace, the… Read More
RCS Capital Corporation (NYSE: RCAP) (“RCS Capital”) today announced the appointment of R. Lawrence “Larry” Roth and Brian D. Jones to the Company’s Board of Directors, effective immediately. Roth currently serves as Chief Executive Officer of Cetera Financial Group while Jones is the Chief Financial Officer of RCS Capital…. Read More
RCS Capital Corporation (“RCS Capital”), announced today that on March 18, 2015, it closed its previously announced acquisition of independent broker-dealer Girard Securities, Inc. (“Girard”). Girard has over $10 billion of assets under administration and 250 financial advisors, bringing Cetera Financial Group’s total assets under administration to $236 billion and nearly… Read More
RCS Capital Corporation (“RCS Capital”) (NYSE: RCAP), announced today that on March 11th, 2015, it closed its previously announced acquisition of VSR Group, Inc. and its wholly-owned subsidiary, VSR Financial Services, Inc. (collectively, “VSR”). VSR, a family owned broker-dealer for 30 years based in Overland Park, Kansas, is a respected regional… Read More
RCS Capital Corporation (NYSE: RCAP) (“RCS Capital” or the “Company”) announced on Monday (January 5th) that its wholesale broker dealer subsidiaries, Realty Capital Securities, LLC, (“Realty Capital Securities”), SC Distributors (“Strategic Capital”) and The Hatteras Funds, raised $9.7 billion for calendar year 2014, maintaining its leading market share for… Read More
RCS Capital has made several changes to the Board of Directors including the appointment of Mark Auerbach as Board Chair, effective immediately. Auerbach succeeds Nicholas Schorsch who has decided to step down. Simultaneously William Kahane has resigned from the RCS board as well. Auerbach commented… Read More
RCS Capital Corporation (“RCS Capital”), in light of recent market developments, issued the following statement: CEO of RCS Capital, Michael Weil stated,”The fundamentals driving the success of our business remain strong and unchanged. Our confidence in the long-term prospects for the company is resolute. There… Read More
RCS Capital Corporation (NYSE: RCAP) announced today that it has entered into an agreement to exchange RCS Capital’s existing Series A convertible preferred stock owned by Luxor Capital Group LP and its affiliates (“Luxor”) for a new series of perpetual preferred and a new series of… Read More
RCS Capital Corporation (NYSE: RCAP) has announced it has agreed with American Realty Capital Properties, Inc. (NASDAQ: ARCP) to settle litigation commenced in the Delaware Court of Chancery by ARCP in connection with RCS Capital’s termination of the definitive agreement to acquire Cole Capital Partners… Read More
In a company release RCS Capital Corporation (NYSE: RCAP) stated that certain broker-dealers have resumed sales of products distributed by RCS Capital the company’s wholesale distribution business, pursuant to 51 recently reinstated selling agreements. RCS Capital states it has 1,020 active selling agreements and works… Read More
RCS Capital Corporation (“RCAP”) (NYSE: RCAP), today issued the following statement regarding RCAP’s recent share price movement. Given the corporate announcements made by American Realty Capital Properties, Inc. (“ARCP”) (NASDAQ: ARCP) since October 29th, and the effect those announcements have had on RCAP’s market valuation, RCAP would like to… Read More
RCS Capital Corporation (NYSE: RCAP) announced on Wednesday (October 1st) that it has entered into a definitive agreement to acquire Cole Capital Partners, LLC and Cole Capital Advisors, Inc. (together, “Cole Capital”) from American Realty Capital Properties, Inc. (NASDAQ: ARCP) for $700 million plus contingent consideration. Cole Capital is the… Read More
Los Angeles-based Docupace Technologies (Docupace), a provider of secure and compliant electronic processing technology for financial institutions and the wealth management industry, announced on Thursday (September 18th) that RCS Capital Corporation (NYSE: RCAP) will help drive Docupace’s next stage growth plans with a significant investment in the… Read More
Simultaneously Announces Acquisition of Trupoly. RCS Capital Corporation (NYSE: RCAP), has announced that it is establishing an investment crowdfunding platform which it will operate under the name, “We R Crowdfunding.” Concurrent with this announcement, RCAP revealed they had acquired Trupoly, a New York based white… Read More
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