Wedbush Financial Services Closes a Private Placement of $50 Million Senior Notes Due in 2026

BY PR Newswire | CORPORATE | 01/13/21 11:54 AM EST

LOS ANGELES, Jan. 13, 2021 /PRNewswire/ -- Wedbush Financial Services, LLC (the "Company"), the parent company of Wedbush Securities Inc., closed a private placement of $50 million, 5.50% Senior Unsecured Notes (the "Notes") due 2026. The Company and Wedbush Securities Inc. were previously assigned ratings of BBB- and BBB, respectively, and the Company's senior unsecured debt was assigned a rating of BBB- by Kroll Bond Rating Agency.

Gary Wedbush, Chief Executive Officer of the Company and President of Wedbush Securities, commented, "We are very pleased to close our first Note placement. This placement diversifies our funding and brings high quality institutional investors to scale our growth initiatives."

Wedbush Securities Inc. Financial Institutions Investment Banking Group acted as exclusive placement agent to the Company.

About Wedbush Financial Services
Wedbush Financial Services is a diversified financial services holding company. Its primary subsidiary, Wedbush Securities, which was founded in 1955, has been a leader in the financial services industry, providing its clients, both private and institutional, with a wide range of securities brokerage and processing, wealth management, and investment banking services.? Headquartered in Los Angeles, California with over 100 registered offices and nearly 900 colleagues, the firm focuses on bespoke client service and the utilization of advanced technology.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. The Notes were offered and sold by the Company in a private placement transaction in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.

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SOURCE Wedbush Financial Services

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