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Banking, finance, and taxes

Broadpoint Securities Registers Shares Tied To Recent Private Placement (BPSG, FACT)

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By Douglas A. McIntyre Updated Published

Broadpoint Securities (NASDAQ: BPSS) has filed on behalf of stockholders a securities offering whereby an aggregate of 7.058 million shares of common stock for a total maximum price of $12.352 million.

The independent boutique investment bank will not receive any proceeds  from the offering.  This securities registration is tied to a private placement that Broadpoint sold to accredited investors in early March.

We frequently discuss secondary offerings, special financings, restructurings, insider activity, activist investor trends, IPO’s, back door plays into IPO’s, SPAC’s, spin-offs, and more on our open email distribution list.

Broadpoint has a $127 million market cap and had recently completed some private placements of securities.  For those of you who aren’t familiar with Broadpoint, this is the one that used to First Albany Securities that used to trade as "FACT" on NASDAQ.

Its 52-week trading range is $0.99 to $1.96.  Back in 2005 this was north of $5.00 and back in 2003 and 2004 this traded north of $15.00 for a brief period of time.

Rachel Lopez
April 2, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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