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Cowen, Inc., 7.75% Senior Notes due 6/15/2033
Ticker Symbol: COWNL* CUSIP: 223622804 Exchange: NGS
* NOTE: This security is no longer trading as of 6/15/2023
Security has been Called for: Thursday, June 15, 2023
March 01, 2023 -- Cowen Inc. (NASDAQ:COWN) today announced that TD Bank Group has completed the acquisition of Cowen. On the Closing Date, in connection with the consummation of the Merger, the Company delivered a notice of redemption to the holders of the 2033 Notes to redeem all $100,000,000 in aggregate principal amount thereof at a redemption price equal to 100% of the principal amount to be redeemed plus the accrued and unpaid interest to, but excluding, the redemption date. On the Closing Date, the Company deposited with the Trustee the applicable payments to satisfy and discharge the Indenture and to eventually redeem the 2033 Notes. The 2033 Notes are expected to be redeemed on June 15, 2023.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Cowen, Inc., 7.75% Senior Notes due 2033, issued in $25 denominations, redeemable at the issuer's option on or after 6/15/2023 at $25 per note plus accrued and unpaid interest, and maturing 6/15/2033. Interest distributions of 7.75% per annum ($1.9375 per annum or $0.484375 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (COWN*)
IPO - 6/4/2018 - 3.60 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $90.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 599 Lexington Avenue, 20th Floor, New York, NY 10022 |
| Main Phone Number |
646-562-1010 |
| Fax Number |
Not Available |
| Investor Contact (CFO)
Stephen Lasota
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212-845-7919
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| CEO - Jeffrey M. Solomon |
CFO - Stephen A. Lasota |
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