UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 10, 2023
Siebert Financial Corp.
(Exact name of registrant as specified in its charter)
| New York |
|
0-5703 |
|
11-1796714 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification Number) |
| 535
Fifth Avenue, 4th
Floor, New
York, NY |
|
10017 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (212) 644-2400
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act |
| ☒ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock - $0.01 par value |
|
SIEB |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material
Definitive Agreement.
On July 10, 2023, Siebert
Financial Corp. (the “Company”) entered into a Share Redemption Agreement (the “Share Redemption Agreement”) with
Cynthia DiBartolo, Tigress Holdings LLC, a Delaware limited liability company (“Tigress”), pursuant to which the Company will
repurchase from Ms. DiBartolo one million (1,000,000) of its common stock held by Cynthia DiBartolo in exchange for conveying to Ms. DiBartolo
the Company’s 17% interest in Tigress (the “Remaining Tigress Interest”).
As previously reported, Tigress,
the Company, and RISE Financial Services, LLC, a limited liability company organized under the laws of Delaware (“RISE”),
entered into that certain Reorganization Agreement, dated as of October 18, 2022 (the “Reorganization Agreement”), whereby
the Company exchanged seven percent (7%) of the outstanding membership interests in Tigress for all of Tigress’ ownership interest
in the Company’s subsidiary RISE, and the Company agreed to sell the Remaining Tigress Interest to Gloria E. Gebbia, a director
and controlling shareholder of the Company.
The Board of Directors has
determined it is in the Company’s and its shareholders best interests to sell its Remaining Tigress Interest to Ms. DiBartolo in
lieu of selling such interest to Ms. Gebbia.
The financial impact of the transaction on the Company’s statement of income will be
a one-time non-cash loss of approximately $185,000 for the three months ended June 30, 2023.
No Offer or Solicitation
This communication is not
intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase
or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction in connection with the stock purchase
agreements, the transactions or stockholder approval or otherwise, nor shall there be any sale, issuance or transfer of securities in
any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the
United States. No offer of securities shall be made in the United States absent registration under the Securities Act of 1933, as amended,
or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.
Participants in the Solicitation
The Company and their directors
and executive officers may be deemed participants in the solicitation of proxies of the Company’s stockholders in respect of the
proposed Second Tranche Stock Purchase Agreement with Kakaopay, which is described in the Company’s Current Report on Form 8-K filed
on May 3, 2023. The Company’s stockholders and other interested persons may obtain more detailed information about the names and
interests of these directors and officers of the Company, including, when filed with the SEC, the Company’s proxy statement. These
documents can be obtained free of charge at the SEC’s web site at www.sec.gov.
Forward-Looking Statements
This Current Report on Form
8-K contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 with respect to the proposed transactions. These forward-looking statements generally are identified
by the words such as “believe,” “project,” “expect,” “anticipate,” “estimate,”
“intend,” “strategy,” “future,” “opportunity,” “plan,” “may,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking
statements are predictions, projections and other statements about future events that are based on current expectations and assumptions
and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections
and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual
future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including but not limited to:
(i) the risk that the closing of the Second Tranche Stock Purchase Agreement may not be completed in a timely manner or at all, which
may adversely affect the price of the Company’s securities; (ii) the failure to satisfy the conditions to the closing of the Second
Tranche Stock Purchase Agreement, including the approval of various regulators and approval by a majority-of-the-minority stockholders
of the Company; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Second
Tranche Stock Purchase Agreement; (iv) the outcome of any legal proceedings that may be instituted against any of the parties to the First
Tranche Stock Purchase Agreement, Second Tranche Stock Purchase Agreement or related transaction agreements following the announcement
of the entry into the agreements; (v) the ability of the parties to recognize the benefits of the investment; the expected future market
opportunities of the Company, and (vi) those factors discussed in the Company’s filings with the SEC and that that will be contained
in the definitive Proxy Statement relating to a Special Meeting of Shareholders. You should carefully consider the foregoing factors and
the other risks and uncertainties that will be described in the “Risk Factors” section of the definitive Proxy Statement and
other documents to be filed by the Company from time to time with the SEC. These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking
statements, and while the Company may elect to update these forward-looking statements at some point in the future, they assume no obligation
to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, subject to applicable
law. The Company gives no assurance that the Company will achieve its expectations.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following
exhibit is furnished with this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Dated: July 14, 2023 |
SIEBERT FINANCIAL CORP. |
| |
|
|
| |
By |
/s/ Andrew H. Reich |
| |
|
Andrew H. Reich |
| |
|
Executive Vice President, Chief
Operating Officer, Chief Financial
Officer, Secretary and Director
(Principal executive, financial and
accounting officer) |
3
Exhibit 10.40
Execution Copy
SHARE REDEMPTION AGREEMENT
This Share Redemption Agreement
(this “Agreement”) is made and entered into as of July 10, 2023, (the “Effective Date”) by and among
Cynthia DiBartolo (“DiBartolo”), Siebert Financial Corp., a New York corporation (the “Company”)
and Tigress Holdings LLC, a Delaware limited liability company (“Tigress”).
A. The
Company owns limited liability company membership interests in Tigress representing seventeen percent (17%) of the issued and outstanding
membership interests of Tigress (the “Remaining Tigress Interest”).
B. Tigress,
the Company, and RISE Financial Services, LLC, a limited liability company organized under the laws of Delaware (“RISE”),
are parties to that certain Reorganization Agreement, dated as of October 18, 2022 (the “Reorganization Agreement”),
whereby the Company exchanged seven percent (7%) of the outstanding membership interests in Tigress for all of Tigress’ ownership
interest in the Company’s subsidiary RISE, and the Company agreed to sell its remaining interest in Tigress, representing seventeen
percent (17%) of the outstanding membership interests in Tigress (the “Remaining Tigress Interest”), to Gloria
E. Gebbia, a director and controlling shareholder of the Company, for a consideration to be determined subject to an independent fairness
opinion.
D. The
parties deem it in their respective best interests for the Company to sell its Remaining Tigress Interest to Cynthia DiBartolo in lieu
of selling such interest to Gloria Gebbia by redeeming shares of the Company’s common stock, $0.01 par value per share, owned by
DiBartolo.
Now, therefore, the parties
hereby agree as follows.
1. REDEMPTION
OF SHARES AND SALE OF REMAINING TIGRESS INTEREST.
1.1 Redemption.
On the date of the Closing (as defined below) and subject to the terms and conditions of this Agreement, the Company shall redeem from
DiBartolo one Million (1,000,000) shares of the Company’s common stock held by DiBartolo (the “Shares”).
1.2 Consideration.
The aggregate consideration to be paid by the Company to DiBartolo is the Company’s transfer of its Remaining Tigress Interest to
DiBartolo.
1.3 Tigress
and DiBartolo Consent and Waiver. With respect to the sale and purchase of the Remaining Tigress Interest described in Section
1.1 above, Tigress and DiBartolo, and each of them, hereby (a) consents to such transactions for any and all purposes, including, without
limitation, for purposes of any and all provisions under the Operating Agreement of Tigress (the “Operating Agreement”),
this Agreement or under any other agreement or instrument binding on Tigress and the Company, (b) waives any notice requirements or rights
of first refusal with respect thereto, and (c) acknowledges and agrees that Gloria Gebbia shall have no obligation to purchase the Remaining
Tigress Interest, or otherwise, under the Reorganization Agreement. Tigress hereby agrees and acknowledges that the Remaining Tigress
Interest shall no longer be subject to the terms of the Reorganization Agreement or under any other agreement or instrument binding on
Tigress and the Company following the Closing.
2. CLOSING.
The closing of the sale and purchase of the Remaining Tigress Interest shall take place on a date mutually agreeable to the Company and
DiBartolo (the “Closing”).
2.1 Deliveries
by the Company. At the Closing the Company shall deliver to DiBartolo any share certificates representing the Remaining Tigress
Interest and, if applicable, authorizes Tigress to cancel and reissue certificates to DiBartolo.
2.2 Deliveries
by DiBartolo. At the Closing DiBartolo shall either duly endorse in blank certificate(s) evidencing the Shares being redeemed
from DiBartolo as contemplated herein in a form ready for transfer or duly execute and deliver an assignment separate from certificate
for such Shares, and shall execute any documents or assignments necessary to effectuate the transfer and conveyance of said Shares.
3. REPRESENTATIONS
AND WARRANTIES OF PURCHASER. DiBartolo represents and warrants to the Company as follows.
3.1 Accredited
Investor. DiBartolo is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the 1933 Act.
3.2 Title
to the Shares. DiBartolo is the sole record and beneficial owner of the Shares. DiBartolo has valid marketable title to the Shares
free and clear of any pledge, lien, security interest, encumbrance, claim, equitable interest, option, voting agreement, equitable interest
or restrictions of any nature (collectively, “Claims”). At the date of the Closing, and upon payment therefor, in accordance
with the provisions of this Agreement, the Company will acquire valid marketable title to the Shares, free and clear of any Claims and
will acquire all of DiBartolo’s right, title and interest in and to the Shares. DiBartolo does not have any rights (contractual
or otherwise) in respect of the Shares after the consummation of the transactions contemplated by this Agreement, and neither DiBartolo
with respect to the Shares nor any of the Shares is bound by or otherwise subject to any other obligations. DiBartolo does not have any
claims, counterclaims, suits, or causes of action, at law or in equity, against the Company or any other third party in respect of the
Shares. DiBartolo has not entered into any contract or agreement, other than this Agreement, to sell or otherwise transfer any of the
Shares. DiBartolo shall transfer clear and marketable title to the Shares to the Company at Closing.
3.3 Consents.
All consents, approvals, authorizations, waivers and orders required for the execution and delivery of this Agreement and the transfer
of the Remaining Tigress Interest under this Agreement and pursuant to the Operating Agreement have been obtained and are in full force
and effect.
3.4 Authority.
DiBartolo has full legal right, power and authority to enter into and perform its obligations under this Agreement any other document
signed by the Company pursuant to this Agreement and to transfer the Shares under this Agreement, and DiBartolo is not obligated to transfer
the Shares, or any of them, to any other person or entity.
3.5 No
Conflicts. The execution, delivery and performance of this Agreement by DiBartolo, and the consummation of the transactions contemplated
hereby, will not (a) constitute a violation (with or without the giving of notice or lapse of time, or both) of any provision of any law
or any judgment, decree, order, regulation or rule of any court, agency or other governmental authority applicable to DiBartolo or Tigress,
(b) require any consent, approval or authorization of, or declaration, filing or registration with, any person or entity, (c) result in
a default (with or without the giving of notice or lapse of time, or both) under, acceleration or termination of, or the creation in any
party of the right to accelerate, terminate, modify or cancel, any agreement, lease, note or other restriction, encumbrance, obligation
or liability to which DiBartolo or Tigress is a party or by which DiBartolo or Tigress is bound or to which any assets of DiBartolo or
Tigress are subject, or (d) result in the creation of any lien or encumbrance upon the assets of DiBartolo or Tigress, or upon the Shares
or other securities of Tigress.
3.6 Binding
Agreement. This Agreement is a legal, valid and binding agreement of DiBartolo enforceable against DiBartolo in accordance with
its terms, except as enforcement may be limited by bankruptcy, insolvency reorganization, moratorium or other similar laws relating to
creditors’ rights generally and except that the availability of equitable remedies, including specific performance, is subject to
the discretion of the court before which any proceeding therefore may be brought.
4. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company represents and warrants to DiBartolo as follows.
4.1 Title
to Remaining Tigress Interest. The Company is the sole record and beneficial owner of the Remaining Tigress Interest. The Company
has valid marketable title to the Remaining Tigress Interest free and clear of any pledge, lien, security interest, encumbrance, claim,
equitable interest, option, voting agreement, equitable interest or restrictions of any nature (collectively, “Claims”),
except as set forth in the Operating Agreement. At the date of the Closing, and upon payment therefor, in accordance with the provisions
of this Agreement, DiBartolo will acquire valid marketable title to the Remaining Tigress Interest, free and clear of any Claims and will
acquire all of the Company’s right, title and interest in and to the Remaining Tigress Interest. The Company does not have any rights
(contractual or otherwise) in respect of the Remaining Tigress Interest after the consummation of the transactions contemplated by this
Agreement, and neither the Company with respect to the Remaining Tigress Interest nor any of the Remaining Tigress Interest is bound by
or otherwise subject to any other obligations. The Company does not have any claims, counterclaims, suits, or causes of action, at law
or in equity, against Tigress or any other third party in respect of the Remaining Tigress Interest. The Company has not entered into
any contract or agreement, other than this Agreement, to sell or otherwise transfer any of the Remaining Tigress Interest. The Company
shall transfer clear and marketable title to the Remaining Tigress Interest to DiBartolo at Closing.
4.2 Consents.
All consents, approvals, authorizations, waivers and orders required for the execution and delivery of this Agreement and the redemption
of the Shares under this Agreement have been obtained and are in full force and effect.
4.3 Authority.
The Company has full legal right, power and authority to enter into and perform its obligations under this Agreement any other document
signed by the Company pursuant to this Agreement and to transfer the Remaining Tigress Interest under this Agreement, and the Company
is not obligated to transfer the Remaining Tigress Interest to any other person or entity.
4.4 No
Conflicts. The execution, delivery and performance of this Agreement by the Company, and the consummation of the transactions
contemplated hereby, will not (a) constitute a violation (with or without the giving of notice or lapse of time, or both) of any
provision of any law or any judgment, decree, order, regulation or rule of any court, agency or other governmental authority applicable
to the Company, (b) require any consent, approval or authorization of, or declaration, filing or registration with, any person or entity,
(c) result in a default (with or without the giving of notice or lapse of time, or both) under, acceleration or termination of, or the
creation in any party of the right to accelerate, terminate, modify or cancel, any agreement, lease, note or other restriction, encumbrance,
obligation or liability to which the Company is a party or by which the Company is bound or to which any assets of the Company are subject,
or (d) result in the creation of any lien or encumbrance upon the assets of the Company, or upon any such Remaining Tigress Interest or
other securities of the Company.
4.5 Binding
Agreement. This Agreement is a legal, valid and binding agreement of the Company enforceable against the Company in accordance
with its terms, except as enforcement may be limited by bankruptcy, insolvency reorganization, moratorium or other similar laws relating
to creditors’ rights generally and except that the availability of equitable remedies, including specific performance, is subject
to the discretion of the court before which any proceeding therefore may be brought.
5. Conditions
to the Company’s Obligations at the Closing. The obligations of the Company to sell the Remaining Tigress Interest
at the closing are subject to the fulfillment, on or before such Closing, of each of the following conditions, unless otherwise waived:
5.1 Board
Approval. The Board of Directors of the Company shall have approved sale of the Remaining Tigress Interest to DiBartolo and
the terms and conditions of this Agreement.
5.2
Performance. DiBartolo shall have performed and complied with, in all material respects, all covenants, agreements, obligations
and conditions contained in this Agreement that are required to be performed or complied with by DiBartolo on or before the Closing.
6. Conditions
to DiBartolo’s Obligations at the Closing. The obligations of DiBartolo to purchase the Remaining Tigress Interest
at the closing are subject to the fulfillment, on or before such Closing, of the following conditions, unless otherwise waived: the Company
shall have performed and complied with, in all material respects, all covenants, agreements, obligations and conditions contained in this
Agreement that are required to be performed or complied with by the Company on or before the Closing.
7. NO
BROKER; RELIANCE. the Company and DiBartolo acknowledge and agree that neither Tigress nor the Company, nor any of their shareholders,
members, officers, directors, employees, affiliates or agents (other than the Company) have acted as an agent, finder or broker for the
Company or DiBartolo or their respective agents with respect to the offer, purchase and/or sale of the Shares or the Remaining Tigress
Interest, respectively. The Company and DiBartolo represent to each other and Tigress that such party neither is nor will be obligated
for any finder’s fee or commission in connection with the transactions contemplated by this Agreement. In making its decision to
purchase the Remaining Tigress Interest, DiBartolo is relying solely on her own knowledge and experience and the representations and warranties
of the Company and Tigress set forth herein.
8. GENERAL
PROVISIONS.
8.1 Successors
and Assigns. Except as otherwise provided in this Agreement, the rights and obligations of the parties hereunder, will be binding
upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives.
8.2 Governing
Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York, without giving effect
to that body of laws pertaining to conflict of laws.
8.3 Dispute
Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the federal or state courts located
in the City of New York in the State of New York for the purpose of any suit, action or other proceeding arising out of or based upon
this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the
federal or state courts located in New York, New York or the United States District Court for the District of New York, and (c) hereby
waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it
is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution,
that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper
or that this Agreement or the subject matter hereof may not be enforced in or by such court.
8.4 WAIVER
OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF
THIS AGREEMENT, THE SHARES OR THE SUBJECT MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES
THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS,
TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY
DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS
AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS
JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.
8.5 Notices.
Any and all notices required or permitted to be given to a party pursuant to the provisions of this Agreement will be in writing and will
be effective and deemed to provide such party sufficient notice under this Agreement on the earliest of the following: (a) at the
time of personal delivery, if delivery is in person or at the time of delivery of electronic-mail transmission; (b) one (1) business
day after deposit with an express overnight courier for United States deliveries, or two (2) business days after such deposit for deliveries
outside of the United States; or (c) three (3) business days after deposit in the United States mail by certified mail (return receipt
requested) for United States deliveries. All notices for delivery outside the United States will be sent by express courier. All notices
not delivered personally will be sent with postage and/or other charges prepaid and properly addressed to the party to be notified at
the address set forth below the signature lines of this Agreement or at such other address as such other party may designate by one of
the indicated means of notice herein to the other party hereto. A “business day” shall be a day, other than Saturday or Sunday,
when the banks in the city of New York are open for business.
8.6 Further
Assurances. The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably
necessary to carry out the purposes and intent of this Agreement.
8.7 Titles
and Headings. The titles, captions and headings of this Agreement are included for ease of reference only and will be disregarded
in interpreting or construing this Agreement. Unless otherwise specifically stated, all references herein to “sections” and
“exhibits” will mean “sections” and “exhibits” to this Agreement.
8.8 Entire
Agreement. This Agreement and the documents referred to herein, constitute the entire agreement and understanding of the parties
with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or written,
between or among the parties hereto with respect to the specific subject matter hereof. This Agreement shall not be effective until signed
by all parties hereto.
8.9 Severability.
If any provision of this Agreement is determined by any court or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable
in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto.
8.10 Amendment
and Waivers. This Agreement may be amended or any provision waived only by a written agreement executed by each of the parties
hereto.
8.11 Confidentiality.
Tigress, DiBartolo and the Company agree to keep confidential and will not disclose any information about the terms of this Agreement
and the transactions contemplated hereby, except to officers, directors, employees, consultants, agents, accountants, attorneys, principals,
and members, general partners and limited partners of such principals of Tigress, DiBartolo or the Company (as applicable) on a need-to-know
basis or as required by law.
8.12 Counterparts;
Facsimile Signatures. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
will be deemed an original, and all of which together shall constitute one and the same agreement. This Agreement may be executed and
delivered by facsimile or other means of electronic delivery and upon such delivery the signature will be deemed to have the same effect
as if the original signature had been delivered to the other party.
8.13 Expenses.
In the event that any action, suit or other proceeding is instituted concerning or arising out of this Agreement or any transaction contemplated
hereunder, the prevailing party shall recover all of such party’s costs and attorneys’ fees incurred in each such action,
suit or other proceeding, including any and all appeals or petitions therefrom.
8.14 Survival.
The representations, warranties, covenants and agreements made in this Agreement shall survive the Closing and shall in no way be affected
by any investigation made by or on behalf of any party hereto.
8.15 Attorney
Representation. DiBartolo and the Company acknowledges and agrees that: (a) such party has read this Agreement; (b) such party
has been represented in the preparation, negotiation and execution of this Agreement by legal counsel of such party’s own choice
or has voluntarily declined to seek such counsel; and (c) such party understands the terms and consequences of this Agreement and is fully
aware of the legal and binding effect of this Agreement.
[Signature page follows]
IN WITNESS WHEREOF, the parties have each
executed this Share Redemption Agreement, as of the Effective Date.
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THE COMPANY |
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Siebert Financial Corp., a New York corporation |
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|
| |
|
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By: Andrew H. Reich |
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Executive Vice-President |
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653 Collins Avenue, Miami, FL, 33139 |
[SIGNATURE PAGE TO SHARE REDEMPTION AGREEMENT]
IN WITNESS WHEREOF, the parties have each
executed this Share Redemption Agreement, as of the Effective Date.
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TIGRESS HOLDINGS LLC |
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|
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|
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Name: Cynthia DiBartolo |
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Title: Managing Member |
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410 Park Ave, New York, NY 10022 |
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DiBARTOLO: |
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|
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|
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Cynthia DiBartolo |
9
Siebert Financial (NASDAQ:SIEB)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Siebert Financial (NASDAQ:SIEB)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
