Broadpoint Gleacher Securities Group, Inc. Announces Pricing of Public Offering of Common Stock

BofA Merrill Lynch, Broadpoint.Gleacher and Sandler O'Neill + Partners, L.P. are the bookrunners for the offering, and Keefe Bruyette & Woods and Fox-Pitt Kelton Cochran Caronia Waller are the co-managers. The price to the public is $6.25 per share, and proceeds to the Company from the offering, net of underwriting discounts and commissions and expenses, are expected to be approximately $81.4 million. The Company will not receive any of the proceeds from the sale of shares by the selling shareholders. The Company intends to use the net proceeds from this offering for working capital, general corporate purposes, potential acquisitions and expansion of its business generally. The Company has granted to the underwriters a 30-day option to purchase up to an additional 2,000,000 shares, and one of the selling shareholders has granted to the underwriters a 30-day option to purchase up to an additional 1,525,000 shares, to cover over-allotments, if any.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. A final prospectus concerning this offering may be obtained from BofA Merrill Lynch by calling 212-449-1000 or by writing to BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or from Sandler O'Neill + Partners, L.P. by calling 866-805-4128 or by writing to Sandler O'Neill + Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022, Attn: Syndicate Department.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Broadpoint.Gleacher

Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG | Quote | Chart | News | PowerRating) is an independent investment bank that provides corporations and institutional investors with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization and strategic alternative analysis services.

Forward Looking Statements

This press release contains "forward-looking statements." These statements are not historical facts but instead represent the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and acceptance of the Company's services within those markets and other risks and factors identified from time to time in the Company's filings with the Securities and Exchange Commission. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update any of its forward-looking statements.

SOURCE: Broadpoint Gleacher Securities Group, Inc.

Investors: 
Broadpoint Gleacher Securities Group, Inc. 
Robert Turner, 212-273-7109 
Chief Financial Officer