RCS Capital to Acquire Investors Capital Holdings for $52.5M

RCS Capital Corporation (RCAP announced today that on October 27, 2013, RCAP and a newly formed wholly owned subsidiary of RCAP entered into an agreement and plan of merger with Investors Capital Holdings, Ltd. ("ICH") ICH by which RCAP will acquire ICH for approximately $52.5 million, comprised of cash and RCAP common stock. Following the merger, ICH and its subsidiaries, through the leadership of Tim Murphy, CEO and President of ICH, and his management team, will continue to operate under current management and the "ICH" brand.  A four-time winner of Investment Advisor's Broker-Dealer of the Year award, ICH is a financial services holding company that operates primarily through its wholly owned broker-dealer and registered investment adviser subsidiary, Investors Capital Corporation ("ICC"). ICC provides broker-dealer services to investors in support of trading and investment in securities, alternative investments and variable life insurance as well as investment advisory and asset management services. With over 450 registered representatives in over 300 branch locations across the United States, following the acquisition by RCAP, ICH will constitute a new stand-alone line See full press release