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NEW YORK - Siebert Financial Corp. (NASDAQ: SIEB), a diversified financial services firm with a market capitalization of $211 million and impressive year-to-date returns of 65%, has announced the effectiveness of its shelf registration statement on Form S-3 as declared by the Securities and Exchange Commission (SEC). This approval provides the company with the option to raise up to $100 million through the sale of various securities. According to InvestingPro data, the company maintains a strong gross profit margin of 93.7%.
The funds from this potential capital raise are intended to support Siebert’s strategic initiatives, which include possible acquisitions and investments in digital assets such as Bitcoin, Ethereum, and Solana. Additionally, the company plans to further develop its technology services, with a focus on artificial intelligence (AI) solutions.
John J. Gebbia, CEO of Siebert Financial, emphasized that the shelf registration is a strategic move to enhance the company’s ability to invest in areas that will shape the future of financial services, particularly AI, digital assets, and innovation. The Chief Financial Officer, Andrew Reich, also highlighted the flexibility this filing provides, enabling the company to invest in next-generation technologies and support shareholder growth over the long term. InvestingPro analysis shows the company maintains a "GREAT" financial health score, with multiple positive indicators available to subscribers.
The announcement reflects Siebert’s ongoing commitment to innovation within the financial services sector, including the integration of blockchain technology to improve client experiences and platform capabilities.
Siebert Financial has a storied history dating back to 1967, when Muriel Siebert became the first woman to own a seat on the New York Stock Exchange and head one of its member firms. Today, Siebert operates through its subsidiaries, offering a wide range of brokerage and financial advisory services.
The company’s statement also included a cautionary note regarding forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ from those projected.
This news is based on a press release statement from the company and has not been independently verified. Siebert Financial has not yet announced specific plans for the use of the proceeds from this potential capital raise.
In other recent news, Siebert Financial Corp announced the appointment of Fredrick Scuteri as the Chief Operating Officer of its broker-dealer subsidiary, Muriel Siebert & Co., LLC. Scuteri, who brings nearly 30 years of experience in institutional trading and asset management, is expected to enhance Siebert’s operational capabilities. This strategic move is part of Siebert’s ongoing efforts to modernize its trading infrastructure and support growth across its channels. Additionally, Siebert Financial updated its auditor’s consent in a recent SEC filing, amending the date of the audit opinion attached to its Annual Report for the fiscal year ending December 31, 2024. The company clarified that this procedural update does not affect any previously reported financial results or disclosures.
Elsewhere, INX Ltd, a company specializing in crypto assets, filed its annual financial report with the SEC. The report includes comprehensive documents such as the Annual Information Form and Consolidated Financial Statements for the fiscal year ended December 31, 2024. While specific financial figures were not disclosed, the filing provides a detailed overview of INX Ltd’s financial performance and strategic direction. This regulatory disclosure ensures compliance with the Securities Exchange Act of 1934, with no additional commentary on future performance. These developments highlight the companies’ commitments to operational improvements and transparent financial reporting.
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