Pryor Cashman represented National Holdings Corporation (NASDAQ: NHLD) in a recent all-cash tender offer from FBIO Acquisition, Inc. (“FBIO”), an affiliate of Fortress Biotech, Inc.

As part of the offer which expired on September 9, 2016, approximately 54% of NHLD’s outstanding shares were validly tendered.  All were accepted by FBIO.  Per the conditions of the offer, NHLD will remain a publicly traded company and will not merge with FBIO.

In a press release issued on September 12^th, FBIO’s Executive Chairman said he believes NHLD – which generates over $150 million in revenue - and FBIO will “benefit from the synergies and opportunities that each company will provide.”

Founded in 1947, NHLD is a full-service investment banking and asset management firm offering independent retail brokerage and advisory services, institutional sales, trading and equity research, and financial planning, among many other services.

The Pryor Cashman team handling this transaction included Partner James Kaplan, Counsel Michael Campoli and Associate Asher Bundlie, all members of the firm's Corporate Group.

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Pryor Cashman’s Securities + Corporate Finance practice advises clients ranging from issuers, underwriters, placement agents and investors across the spectrum of industries on all aspects of capital markets equity and debt offerings.

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