Freedom Holding Corp. Agrees to Acquire MKM Partners LLC
ALMATY, KAZAKHSTAN and STAMFORD, CT / ACCESSWIRE / December 3, 2021 / Freedom Holding Corp. (NASDAQ:FRHC) ("Freedom") has entered an agreement to acquire MKM Partners, LLC ("MKM Partners"), it was announced today by Timur Turlov, Freedom CEO and Steven L. Messina, MKM Partners Co-CEO. Under the terms of the agreement, Freedom will acquire all the member interest of MKM Partners for cash and Freedom common stock. Completion of the transaction is subject to certain conditions, including approval of FINRA.
"MKM Partners is a well-respected institutional equity trading, sales, and research firm," said Turlov. "With one of the largest distribution forces in the U.S. and a team of distinguished strategists and research analysts, MKM will further enhance Freedom's international team and extend our activities focused on U.S. growth."
Upon closing, MKM will be led by Robert Wotczak, as CEO, and Sagar Sheth, current president of MKM Partners. "We see exciting symmetry between MKM Partners business lines and Freedom that will enable new opportunities for growth. We expect integration of the companies to be accomplished smoothly given the continuity of management and personnel at MKM Partners," said Steven Messina. "Freedom is a dynamic success story and will bring exciting opportunities for expansion to the MKM Partners team."
About MKM Partners
MKM Partners is a Stamford-based firm focused on Trading, Research, Sales, Derivatives, Event Driven/Risk Arbitrage, Proprietary Studies, Capital Markets, Corporate Access, High Yield/Credit, and CSA. It is one of the largest trading firms in the U.S. and is ranked in the top tier in equity research.
Michael Darda, Chief Economist/Market Strategist, leads a team of notable strategists, and is one of the most quoted and well-known economists on the Street with a global coverage span. Strategists on our team frequently appear on CNBC/Bloomberg, and they meet regularly with CIOs and CEOs of our largest clients to provide their unique data, content, and insights.
About Freedom Holding Corp.
Freedom Holding Corp., a Nevada corporation, is a financial services holding company conducting retail financial securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services and consumer banking through its subsidiaries under the name of Freedom Finance in Europe and central Asia. The Company employs more than 2,900 persons and is a professional participant in the Kazakhstan Stock Exchange, Astana International Exchange, Moscow Exchange, Saint-Petersburg Exchange, Ukrainian Exchange, Republican Stock Exchange of Tashkent, and Uzbek Republican Currency Exchange. The Company is also members of the New York Stock Exchange and Nasdaq Stock Exchange. The Company is headquartered in Almaty, Kazakhstan, with administrative office locations in Russia, Cyprus, and the United States.
Freedom common shares are registered with the United States Securities and Exchange Commission and are traded in the United States on the Nasdaq Capital Market, operated by Nasdaq, Inc.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking" statements. All forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business, and regulatory risks and factors identified in Freedom's periodic and current reports filed with the Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and Freedom assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.
Freedom Holding Corp. intends to use its website, https://ir.freedomholdingcorp.com, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.
SOURCE: Freedom Holding Corp.
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Released December 3, 2021