Oppenheimer Holdings Inc 8-K, filed Nov 19, 2020
Oppenheimer Holdings Inc (OPY)
About this 8-K
Oppenheimer Holdings Inc filed this 8-K on November 19, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On November 19, 2020, Oppenheimer Holdings Inc. announced that it had extended its offer to exchange any and all outstanding unregistered 5.50% Senior Secured Notes due 2025 for up to $125,000,000 in aggregate principal amount of its 5.50% Senior Secured Notes due 2025 that have been registered under the Securities Act of 1933, as amended, to 5:00 p.m., New York City time, on Monday, November 23, 2020, unless further extended.
A copy of the announcement is attached as Exhibit 99.1 hereto and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit Number | Exhibit | |
| 99.1 | Announcement dated November 19, 2020. | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Oppenheimer Holdings Inc. | ||
| Date: November 19, 2020 | ||
| By: | /s/ Jeffrey J. Alfano | |
| Name: | Jeffrey J. Alfano | |
| Title: | Chief Financial Officer (Duly Authorized Officer) | |
Exhibit 99.1
OPPENHEIMER HOLDINGS INC. EXTENDS EXCHANGE OFFER
November 19, 2020. New York, NY. Oppenheimer Holdings Inc. (“OPY”) today announced that it has extended its offer to the holders of the $125.0 million aggregate principal amount of its 5.50% Senior Secured Notes due 2025, issued September 22, 2020, to exchange such notes for a like principal amount of notes with identical terms other than that such new notes have been registered under the Securities Act of 1933, as amended.
The exchange offer, which had been scheduled to expire on November 18, 2020 at 5:00 p.m., New York City time, will now expire at 5:00 p.m., New York City time, on Monday, November 23, 2020, unless further extended by OPY. All other terms, provisions and conditions of the exchange offer will remain in full force and effect. The Bank of New York Mellon Trust Company, N.A. has been appointed as exchange agent for the exchange offer.
OPY said it has been informed by the exchange agent that, as of 5:00 p.m., New York City time, on November 18, 2020, $124,550,000.00 in aggregate principal amount of its 5.50% Senior Secured Notes due 2025 had been tendered in the exchange offer. This amount represents approximately 99.640% of the outstanding 5.50% Senior Secured Notes due 2025.
This press release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Company Information
Oppenheimer Holdings Inc., through its operating subsidiaries, is a leading middle market investment bank and full service broker-dealer that is engaged in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (corporate and public finance), equity and fixed income research, market-making, trust services, and investment advisory and asset management services. With roots tracing back to 1881, the Company is headquartered in New York and has 93 retail branch offices in the United States and has institutional businesses located in London, Tel Aviv, and Hong Kong.
Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, OPY’s ability to consummate the offering described in this press release. OPY cautions that a number of important factors could cause OPY’s actual future results and other future circumstances to differ materially from those expressed in any forward-looking statements. Such factors include, but are not limited to, OPY’s ability to consummate the exchange offer and the other factors identified in “Factors Affecting ‘Forward-Looking Statements’” and Part 1A—“Risk Factors” in OPY’s Annual Report on Form 10-K for the year ended December 31, 2019. OPY does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.