JMP Group LLC
JMP GROUP LLC (Form: 8-K, Received: 12/13/2017 16:31:53)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): December 1 1 , 2017  

 


 

JMP Group LLC

(Exact Name of Registrant as Specified in Charter)  

 


 

 

 

 

 

 

Delaware

 

001-36802

 

47-1632931

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

 

 

600 Montgomery Street, Suite 1100, San Francisco, California 94111

(Address of Principal Executive Offices, including zip code)

 

415-835-8900

(Registrant ’s Telephone Number, Including Area Code)

(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:

 

 

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

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 8.01. Other Events

 

On December 11, 2017, the Board of Directors of JMP Group LLC (the “Company”) approved the repurchase of up to one million shares of the Company’s outstanding common shares during 2018. Under the repurchase program, the Company may purchase its common shares from time to time in the open market or through privately negotiated transactions. The timing, volume and nature of any common share repurchases will be at the sole discretion of management, will be dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.

 

As of the close of the market on December 12, 2017, 631,844 of the Company ’s common shares were eligible for repurchase through year-end under the board’s previous authorization. After December 31, 2017, any shares not repurchased under that authorization will no longer be eligible for repurchase, and the new, 2018 authorization announced herein will take effect.

 

Item 9.01. Financial Statements and Exhibits

 

(d) Exhibits.

The following exhibits are furnished as part of t his Current Report on Form 8-K:

 

 

99.1

Press release of the Company dated December 13, 2017.

 

 

 

 

Signature(s)

 

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 hereunto duly authorized.

 

  JMP Group LLC
   
   
Date: December 13, 2017

By: /s/ Raymond Jackson     

         Raymond Jackson
         Chief Financial Officer

 

     

Exhibit 99.1

   

JMP GROUP ANNOUNCES 2018 SHARE REPURCHASE PROGRAM

 

 

SAN FRANCISCO, Dec . 13 , 201 7 — JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, announced today that its board of directors has authorized the repurchase of up to one million of the company’s outstanding common shares during 2018.

 

As of the close of the market on December 12, 2017, 631,844 of the company’s common shares were eligible for repurchase through year-end under the board’s previous authorization. After December 31, 2017, any shares not repurchased under that authorization will no longer be eligible for repurchase, and the new, 2018 authorization announced herein will take effect.

 

Under the 2018 share repurchase program, the company may purchase its common shares from time to time in the open market or through privately negotiated transactions. The timing, volume and nature of any common share repurchases will be at the sole discretion of management, will be dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.

 

Since its in itial public offering in May 2007, the company, together with its predecessor, JMP Group Inc., has repurchased a total of approximately 6.9 million common shares at an aggregate cost of approximately $44.4 million. JMP Group Inc. became a wholly owned subsidiary of JMP Group LLC as a result of a corporate reorganization in January 2015.

 

 

About JMP Group

JMP Group LLC is a diversified capital markets firm that provides investment banking, equity research, and sales and trading services to corporate and institutional clients as well as alternative asset management products and services to institutional and high-net-worth investors. JMP Group conducts its investment banking and research, sales and trading activities through JMP Securities; its hedge fund, venture and private capital, and credit management activities though Harvest Capital Strategies, JMP Asset Management and JMP Credit Advisors; and the management of Harvest Capital Credit Corporation (NASDAQ: HCAP), a business development company, through HCAP Advisors. For more information, visit www.jmpg.com.

 

 

 

Investor Relations Contac t

Media Relations Contact s

JMP Group LL C

Dukas Linden Public Relations, Inc .

   

Andrew Palme r

Ben Jaff e

(415) 835-897 8

(212) 704-738 5

apalmer@jmpg.co m

ben@dlpr.co m

   
 

Zach Leibowit z

 

(212) 704-738 5

 

zach@dlpr.com