Lion Street Returns Equity to Advisors

AUSTIN, Texas, May 22, 2019 (Newswire.com) - Lion Street announced today that it has completed a recapitalization of the company. This transaction returned equity to firms and producers, as well as to the private equity firm. This process demonstrates the evolution of Lion Street as a major distributor of life insurance and wealth management products. It also validated the core belief that the company’s advisors should be first in line for the value created.
 

“Lion Street’s key differentiator and the core of its value proposition has always been the promise that the company’s Owner-Firms would participate in the value that they create,” said Bob Carter, Founder and CEO of Lion Street. “The company’s Board of Directors believes that now is the right time to execute on that promise by returning capital to investors and positioning the company for future growth.”

Lion Street's key differentiator and the core of its value proposition has always been the promise that the company's Owner-Firms would participate in the value that they create...

Bob Carter, Founder and CEO of Lion Street

Key results of Lion Street’s recapitalization:
• Enabled Lion Street to normalize the company’s capital structure by converting all preferred equity into common shares.
• Provided a full return of capital with dividends to preferred stockholders.
• Provided Owner-Firms with an opportunity to increase their ownership interest in the company, which was fully subscribed.

“This recapitalization positions Lion Street to continue our rapid growth as the Firm behind our 175 fiercely independent, elite financial Firms.” Carter said. “To our Owner-Firms, thank you for your continued confidence as an investor in Lion Street.”

ABOUT LION STREET
Lion Street is a leading financial services company based in Austin, Texas. Lion Street provides elite independent life insurance and wealth advisory firms access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of high-net-worth and corporate clients. Every affiliated financial advisor is a stockholder of Lion Street. Together, Lion Street’s Owner-Firms are strongly committed to building a fiercely independent, yet highly collaborative network of professionals. To learn more about Lion Street, please visit www.lionstreet.com or connect with us on LinkedIn.

Lion Street Contact:
Lisa Bynum
Director of Communications
512-776-8490
lbynum@lionstreet.com

Source: Lion Street