8-K 1 a17-8497_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 17, 2017

 

 

INSTITUTIONAL FINANCIAL MARKETS, INC.

(Exact name of registrant as specified in its charter)

 

 

Maryland

 

1-32026

 

16-1685692

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

Cira Centre

 

 

2929 Arch Street, 17th Floor

 

 

Philadelphia, Pennsylvania

 

19104

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (215) 701-9555

 

 

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o              Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o                Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o              Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o              Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Item 8.01                                           Other Events.

 

On March 17, 2017, IFMI, LLC (“IFMI”), a Delaware limited liability company and a majority owned subsidiary of Institutional Financial Markets, Inc., a Maryland corporation (the “Company”), entered into a letter agreement (the “Agreement”) with Sandler O’Neill & Partners, L.P. (“Agent”). Subject to the terms and conditions of the Agreement, Agent has agreed to use its commercially reasonable efforts to purchase, on IFMI’s behalf, up to $2 million of the shares of the Company’s common stock, $0.001 par value per share (“Common Stock”), on any day that the NYSE MKT is open for business. The Agreement will end no later than March 17, 2018. Pursuant to the Agreement, purchases of Common Stock may be made in public and private transactions and must comply with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Agreement is designed to comply with Rule 10(b)5-1 under the Exchange Act.

 

The Agreement was entered into in connection with the Company’s existing repurchase plan, as previously disclosed in the Company’s periodic reports from time to time, which permits the Company to repurchase shares of Common Stock from time to time in open market purchases or privately negotiated transactions.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

INSTITUTIONAL FINANCIAL MARKETS, INC.

 

 

 

 

Date: March 17, 2017

By:

/s/ Joseph W. Pooler, Jr.

 

 

Name:

Joseph W. Pooler, Jr.

 

 

Title:

Executive Vice President, Chief Financial
Officer and Treasurer

 

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