---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-042758"
form_type: "8-K"
ticker: "SIEB"
cik: "0000065596"
company_name: "SIEBERT FINANCIAL CORP"
filed_at: "2023-05-24T23:59:59+00:00"
generated_at: "2026-06-14T16:19:25.259697+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Siebert Financial closes $17.36M private placement with Kakaopay for 19.9% stake

## Summary
- Closed First Tranche with Kakaopay on May 18, 2023: issued 8,075,607 shares at $2.15/share.
- First Tranche shares represent 19.9% of fully diluted equity of Siebert Financial.
- Entered Stockholders' Agreement: board expands to 7 directors, Kakaopay designates one.
- Entered Registration Rights Agreement with lock-up until earlier of Second Tranche date or termination.
- Kakaopay is a fintech subsidiary of Korean conglomerate Kakao Corp.

## SEC filing metadata
- accession: 0001213900-23-042758
- form_type: 8-K
- ticker: SIEB
- cik: 0000065596
- company_name: SIEBERT FINANCIAL CORP
- filed_at: 2023-05-24T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/65596/000121390023042758/0001213900-23-042758-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/65596/000121390023042758/ea179174-8k_siebert.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-042758
- JSON: https://secwatch.observer/filing/0001213900-23-042758.json
- Plain text: https://secwatch.observer/filing/0001213900-23-042758.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.