RCS Capital, a newly organized wholesale broker-dealer, investment bank, and transaction management services provider, announced terms for its IPO on Friday. The New York, NY-based company plans to raise $55 million by offering 2.8 million shares at a price range of $19 to $21. At the midpoint of the proposed range, RCS Capital would command a fully diluted market value of $535 million.
RCS Capital, which was founded in 2007 and booked $470 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol RCAP. JMP Securities and Ladenburg Thalmann & Co. are the joint bookrunners on the deal.
