OK, here it is... CMAN In the brokerage sector. First African-American online brokerage play, upcoming IPO.
FLOAT 800k
eChapman.com Files for IPO; Chapman Capital Management Holdings, Inc. AndChapman Holdings, Inc. Agree to Merge With eChapman.com
BALTIMORE, Nov. 15 /PRNewswire/ -- eChapman.com announced today that it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of 3,333,333 shares of its common stock with a price range of $14 to $16 per share representing 20% of eChapman.com. In conjunction with the offering, Chapman Holdings, Inc. (Nasdaq: CMAN), Chapman Capital Management Holdings, Inc. (Nasdaq: CMGT), and Chapman Insurance Holdings, Inc. each announced an agreement to merge with eChapman.com. In the merger each share of outstanding common stock of Chapman Holdings will be entitled to receive 1.93295 shares of eChapman.com and each share of outstanding common stock of Chapman Capital Management Holdings will be entitled to receive 2.23363 shares of eChapman.com. Following the mergers, these companies will become wholly owned subsidiaries of eChapman.com. The closings of the mergers and IPO will occur simultaneously. The mergers are subject to certain conditions to closing, including, stockholder approvals, minimum merger consideration valuation and other customary conditions.
The offering will be managed by The Chapman Company, which will become a wholly owned subsidiary of eChapman.com following the mergers and the offering. eChapman.com intends to use the net proceeds from this offering for general corporate purposes and for the development of its online trading capabilities and online portal site.
About eChapman.com
eChapman.com is developing an online financial services site combining the products of The Chapman Company, Chapman Capital Management, and The Chapman Insurance Agency. This financial services site will be coupled with an online portal targeted at women, African-Americans, Hispanic-Americans, and Asian- Americans, groups that we refer to collectively as Domestic Emerging Markets.
The Domestic Emerging Markets, or DEM concept was pioneered by Chapman Capital Management as an investment strategy in the mid-1990s and is also the focus of the investment banking, research, market making and brokerage activities of The Chapman Company.
About The Chapman Company
The Chapman Company is the first and currently the only African-American controlled publicly traded investment bank. The Chapman Co. is a full service securities brokerage and investment banking firm and wholly owned subsidiary of Chapman Holdings, Inc. It provides public finance, brokerage and trading and investment management services to institutional and retail clients.
About Chapman Capital Management
Chapman Capital Management is the first and currently the only African-American controlled publicly traded investment management company. Chapman Capital Management, Inc. is an investment advisory firm, and wholly owned subsidiary of Chapman Capital Management Holdings, Inc. It offers individually managed accounts with fixed-income, equity and balanced portfolio options and is the investment adviser for several mutual fund products.
About Chapman Insurance Agency
The Chapman Insurance Agency, Inc. sells annuity products and is a wholly owned subsidiary of Chapman Insurance Holdings, a privately held company.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may any offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A written prospectus may be obtained from The Chapman Company, 401 East Pratt Street, Baltimore, Maryland 21202 or call 800-752-1013.
SOURCE Chapman Capital Management Holdings, Inc.
CO: Chapman Capital Management Holdings, Inc.; eChapman.com; Chapman Holdings, Inc.; Chapman Insurance Holdings, Inc.
ST: Maryland
IN: FIN MLM INS
SU: TNM |
