secwatch.observer — SEC 8-K summary
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Issuer:     COWEN INC. (—)
CIK:        0001466538
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0000950157-23-000197
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 1.02, 2.03, 2.04, 3.01, 3.03, 5.01, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cowen completes acquisition by TD Bank Group; shareholders receive $39.00 per share
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- Merger closed March 1, 2023; Cowen shareholders received $39.00 per share in cash.
- All outstanding debt terminated: $100M 7.75% Senior Notes due 2033 and $78M 7.25% Senior Notes due 2024 redeemed.
- Post-closing, Cowen subsidiaries sold to TD for $273M; $1.6B uncommitted revolving credit line established.
- Cowen's Class A common stock and 2033 Notes to be delisted from Nasdaq; board replaced by Merger Sub directors.
- Series A Preferred Stock mandatorily converted at $1,539.19 per share, settled in cash on March 6, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1466538/000095015723000197/0000950157-23-000197-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1466538/000095015723000197/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0000950157-23-000197

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