Last $0.0013 USD
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As of 8:10 PM 08/19/14 All times are local (Market data is delayed by at least 15 minutes).

direct markets holdings corp (MKTSQ) Snapshot

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01/31/14 - $0.02
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direct markets holdings corp (MKTSQ) Details

Direct Markets Holdings Corp., through its subsidiaries, operates as a full-service investment bank, providing corporate finance, strategic advisory, and related services to public and private companies across multiple sectors and regions. It offers corporate finance in a range of financing alternatives, including private placements, private investments in public equity, registered direct offerings, and underwritten public offerings. The company also provides strategic advisory services on various transactions comprising mergers, acquisitions, and asset sales; sales and trading services to institutions, hedge funds, asset managers, and broker dealers; and equity research services in life science, energy, technology, airlines, and industrials sectors. In addition, it makes principal investments in early-stage biotechnology and life sciences companies; and operates DirectMarkets platform, an automated electronic transaction platform to link existing public company issuers with investors seeking to transact primary offerings of securities by existing publicly-traded companies. The company was formerly known as Rodman & Renshaw Capital Group, Inc. and changed its name to Direct Markets Holdings Corp. in June 2012. Direct Markets Holdings Corp. was founded in 2002 and is headquartered in New York, New York. On January 11, 2013, Direct Markets Holdings Corp., along with its affiliates, filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the Southern District of New York.

141 Employees
Last Reported Date: 08/14/12
Founded in 2002

direct markets holdings corp (MKTSQ) Top Compensated Officers

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direct markets holdings corp (MKTSQ) Key Developments

Direct Markets Holdings Corp.(NasdaqGM:MKTS) dropped from NASDAQ Composite Index

Direct Markets Holdings Corp. will be removed from NASDAQ Composite Index

Direct Markets Holdings To Voluntarily Delist From NASDAQ

Direct Markets Holdings Corp. announced that its Board of Directors has decided to seek a voluntary delisting from the NASDAQ Global Market (NASDAQ). The action followed the Board's review of the status of its potential to regain compliance with certain continuing listing standards required by NASDAQ. Further, on September 13, 2012, NASDAQ halted trading of the common stock following the company's announcement on September 12, 2012, that the company's subsidiary, Rodman & Renshaw, LLC, had advised the Financial Industry Regulatory Authority (FINRA) that it was no longer in compliance with the SEC's Net Capital Rule 15c3-1, and, accordingly, that such subsidiary would cease conducting its securities business, other than liquidating transactions, unless and until it can achieve compliance with the rule. On September 14, 2012, the subsidiary filed a Form BDW - Uniform Request for withdrawal of Broker Dealer - with FINRA. Upon acceptance by FINRA, Rodman & Renshaw, LLC's broker dealer license will terminate. The voluntary decision to delist from NASDAQ was taken following the Board of Director's review of numerous factors including: those set out above; the applicable NASDAQ rules and regulations; Rule 12-d2-2(c) under the Securities Exchange Act of 1933 (as amended); the company's current financial condition; the benefits generated by the maintenance of the listing; the significant compliance obligations and restrictions that result from the maintenance of the listing; and the Board's determination that the company will not be able to regain compliance with applicable continued listing requirements in a timely fashion. The company intends to file a Form 25 with the SEC on September 28, 2012 to commence the NASDAQ delisting process. It is expected that the delisting will take effect as of the close of trading on October 8, 2012. Following delisting, the common stock will no longer trade on the NASDAQ Capital Market. The company believes that quotation of the common stock on the OTC Bulletin Board will commence promptly following the delisting, but can give no assurance that the common stock will be quoted on the OTC Bulletin Board.

Kevin Lupowitz Resigns from Direct Markets Holdings Corp.'s Board of Directors

On August 28, 2012, Kevin Lupowitz resigned from the Direct Markets Holdings Corp. Board of Directors. Mr. Lupowitz will continue as the chief executive officer of Direct Markets Inc., a subsidiary of the company. Mr. Lupowitz will not assume the role of chief executive officer of the company effective September 1, 2012. Edward Rubin will continue as the chief executive officer of the company until further notice.


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