Empire Financial Holding Company Closes $7.2 Million Private Placement
05 Avril 2007 - 3:30PM
PR Newswire (US)
LONGWOOD, Fla., April 5 /PRNewswire-FirstCall/ -- Empire Financial
Holding Company (AMEX:EFH) a brokerage and investment banking firm
serving retail and institutional clients, today announced that it
had closed its previously pending private placement to accredited
individual and institutional investors. At closing, Empire received
gross proceeds of $7,282,434 and issued 6 1/2% convertible
debentures in the aggregate principal amount of $6,387,158,
currently convertible into 2,672,437 shares of common stock,
296,922 shares of common stock and 5-year warrants to purchase,
commencing 6 months after issuance, 1,484,610 shares of common
stock at $2.62 per share. About Empire Financial Holding Company:
Empire Financial Holding Company, through its wholly owned
subsidiaries, Empire Financial Group, Inc., and Jesup & Lamont
Securities Corporation, provides full-service brokerage and
investment banking services through its network of employee and
independently owned and operated offices. Through its market-making
and trading division, the Company offers securities order execution
services for unaffiliated broker dealers and makes markets in
domestic and international securities. Empire Financial also
provides fee based investment advisory and registered investment
advisor custodial services through its wholly owned subsidiaries,
Empire Investment Advisors, Inc., and Jesup & Lamont Securities
Corporation. Forward-Looking Statement Disclaimer This press
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties or other factors which may cause actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Factors
that might cause such a difference include, without limitation,
fluctuations in the volume of transactional services provided by
the Company, competition with respect to financial services
commission rates, the effect of general economic and market
conditions, factors affecting the securities brokerage industry as
well as other risks and uncertainties detailed from time to time in
the Company's Securities and Exchange Commission filings.
DATASOURCE: Empire Financial Holding Company CONTACT: Donald A.
Wojnowski Jr., President of Empire Financial Holding Company,
+1-407-774-1300, ext. 1141, or fax, +1-407-774-1300,
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