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Southwest Securities Group, Inc. Announces $50,000,000 Public Offering
May 21, 1999 05:42 PM
DALLAS, May 21 /PRNewswire/ -- Southwest Securities Group, Inc. SWS today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a public offering of $50,000,000 of Exchangeable Subordinated Notes due 2004. The Notes will be exchanged at maturity for shares of Class A common stock of Knight/Trimark Group, Inc. NITE . The Notes will be issued in denominations based on the market price of the Knight/Trimark common stock, and they will take the form of DARTS (SM) (Derivative Adjustable Ratio Securities (SM) which, together with DARTS, are service marks of Forum Capital Markets LLC). Southwest will grant the underwriters an option to purchase up to an additional $7,500,000 of Notes solely to cover over-allotments. Raymond James & Associates, Inc. and Forum Capital Markets LLC are the underwriters of this offering.
Southwest intends to use the proceeds from this offering for general corporate purposes.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.
SOURCE Southwest Securities Group, Inc.
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