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FBR & Co. (FBRC) Announces Final Results of Modified 'Dutch Auction' Tender; Will Repurchase 194K

December 24, 2012 9:00 AM EST Send to a Friend
FBR & Co. (Nasdaq: FBRC) today announced the final results of its previously announced modified "Dutch auction" tender offer to purchase up to 4 million shares of its common stock at a price between $3.25 and $3.50, which expired at 12:00 midnight, New York City time, on Tuesday, December 18, 2012. FBR has accepted for purchase 193,666 shares of its common stock at a purchase price of $3.50 per share. The tender offer was not subject to proration. Payment for the shares accepted for purchase under the tender offer will be made promptly, and any shares tendered and not purchased will be promptly returned to stockholders.

FBR is purchasing the shares, which represent approximately 0.4% of the shares outstanding as of December 21, 2012, at a total cost of $677,831, excluding fees and expenses relating to the tender offer. FBR expects to have approximately 48,819,850 shares of its common stock outstanding immediately following consummation of the tender offer.

FBR is authorized to repurchase additional shares of its common stock from time to time through open market purchases, at prevailing market prices or in privately negotiated or other transactions. FBR's share repurchase program may be modified or terminated by FBR's board of directors at any time. Pursuant to Rule 13e-4(f) under the Securities Exchange Act of 1934, as amended, any such additional repurchases by FBR of shares of its common stock shall not occur prior to January 4, 2013.




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