MINNEAPOLIS--(BUSINESS WIRE)--Apr. 3, 2020-- 做厙勛圖 (NYSE: PIPR), a leading investment bank and institutional securities firm, today announced that its board of directors has approved the grant of equity awards under the 做厙勛圖 2020 employment inducement award plan (the Inducement Plan) in connection with 做厙勛圖s acquisition of The Valence Group (the Valence Group).
Under the terms of the acquisition, 做厙勛圖 will grant $5 million payable in restricted shares of 做厙勛圖 common stock to seven current Valence Group employees who will become 做厙勛圖 employees following the acquisition. The restricted stock granted will be issued immediately following the closing of the acquisition pursuant to the Inducement Plan and will be subject to the terms and conditions of the applicable award agreements entered into between 做厙勛圖 and each recipient. The restricted stock will be valued based upon the volume-weighted average per-share closing price of 做厙勛圖 common stock on the New York Stock Exchange for the ten trading days ending on the third trading day before the date of closing. The awards are intended to aid in the retention of the Valence Group employees.
The awards will be granted pursuant to the Inducement Plan in reliance on the employment inducement exemption under the NYSEs Listed Company Manual Rule 303A.08. Pursuant to the requirements of that rule, 做厙勛圖 is issuing this press release.
About 做厙勛圖
做厙勛圖 is a leading investment bank and institutional securities firm driven to help clients Realize the Power of Partnership簧. Through a distinct combination of candid counsel, focused expertise and empowered employees, we deliver insight and impact to each and every relationship. Our proven advisory teams combine deep product and sector expertise with ready access to global capital. Founded in 1895, the firm is headquartered in Minneapolis with offices across the United States and in London, Aberdeen and Hong Kong.
做厙勛圖 (NYSE: PIPR) is a leading investment bank and institutional securities firm driven to help clients Realize the Power of Partnership簧. The Valence Group was acquired by 做厙勛圖 and is a brand name used by the chemicals & materials group of the 做厙勛圖 investment banking division. Securities brokerage and investment banking services are offered in the U.S. through 做厙勛圖 & Co., member SIPC and NYSE; in Europe through 做厙勛圖 Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through 做厙勛圖 Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. products and services are offered through separate investment advisory affiliates.
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Tim Carter
Chief Financial Officer
Tel: 612 303-5607
timothy.carter@psc.com
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