Siebert to repurchase 1M shares from Cynthia DiBartolo in exchange for its 17% Tigress stake

SIEBERT FINANCIAL CORP

Siebert will repurchase 1,000,000 shares of its common stock from Cynthia DiBartolo.
In exchange, Siebert will convey its 17% membership interest in Tigress Holdings LLC.
The board approved replacing prior plan to sell Tigress interest to director Gloria Gebbia.
The transaction will result in a one-time non-cash loss of approximately $185,000 for Q2 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SIEBERT FINANCIAL CORP entered into Share Redemption Agreement with Cynthia DiBartolo, Tigress Holdings LLC (effective 2023-07-10).

Action: entry
Agreement: equity purchase
Counterparty: Cynthia DiBartolo, Tigress Holdings LLC
Effective: 2023-07-10

Exact text from the filing

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”).

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Source: SEC EDGAR

accession 0001213900-23-057089

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