On July 10, Siebert Financial Corp Entered Share Redemption Agreement With Cynthia Dibartolo, Tigress Holdings; To Repurchase From Dibartolo 1M Of Its Shares Held By Cynthia Dibartolo In Exchange For Conveying To Dibartolo Co's 17% Interest In Tigress
Portfolio Pulse from Happy Mohamed
Siebert Financial Corp has entered into a share redemption agreement with Cynthia Dibartolo and Tigress Holdings. The agreement involves Siebert repurchasing 1 million of its shares held by Dibartolo in exchange for conveying to Dibartolo the company's 17% interest in Tigress.
July 14, 2023 | 8:27 pm
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NEUTRAL IMPACT
Siebert Financial Corp's share redemption agreement with Cynthia Dibartolo and Tigress Holdings could potentially impact the company's stock price.
The share redemption agreement could potentially impact Siebert Financial Corp's stock price. The company is repurchasing 1 million of its shares, which could lead to a decrease in the number of shares available in the market, potentially affecting the stock price. However, the company is also giving up its 17% stake in Tigress, which could have an opposite effect. The net impact on the stock price will depend on how the market perceives these actions.
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