StoneCastle Financial Corp. Announces Name Change to ArrowMark Financial Corp.
StoneCastle Financial Corp. has officially changed its name to ArrowMark Financial Corp. as of February 24, 2022.
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Rhea-AI Summary
StoneCastle Financial Corp. has officially changed its name to ArrowMark Financial Corp. as of February 24, 2022. This rebranding aligns the company with the ArrowMark Partners platform, enhancing its operational integration. The ticker symbol (NASDAQ:BANX) and CUSIP remain unchanged. ArrowMark Financial retains its existing management team and investment strategies focused on income generation and risk-adjusted returns. Shareholders will benefit from the expanded resources under ArrowMark Partners.
Positive
- Continued management stability with the same team.
- Integration into ArrowMark Partners enhances operational resources.
- Commitment to existing investment strategies focused on income and total returns.
Negative
- None.
Details
News Market Reaction – BANX
The recorded move for BANX in the trading session of this news was -1.98%.
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DENVER, Feb. 24, 2022 (GLOBE NEWSWIRE) -- StoneCastle Financial Corp., a closed-end investment management company, announces its name change to ArrowMark Financial Corp., (NASDAQ:BANX) (“ArrowMark Financial” or the “Company”), effective today, February 24th, at the close of business.
The name change reflects the Company’s longstanding integration into the ArrowMark Partners (“ArrowMark Partners”) platform. The Company’s board of directors approved the name change at its regularly scheduled board meeting. In addition, ArrowMark Financial’s advisor will now be known as ArrowMark Asset Management, LLC and ArrowMark Financial’s ticker symbol (NASDAQ:BANX) and CUSIP Number, 861780104, will remain unchanged.
ArrowMark Financial continues with the same management team and investment committee, led by Chairman & CEO, Sanjai Bhonsle. The Company is committed to the same investment strategy and objectives, namely, income generation and total risk-adjusted returns. Importantly, ArrowMark Financial’s shareholders continue to benefit from the expanded resources under the ArrowMark Partners’ platform and investment expertise across a wide spectrum of banking-related assets.
Investors are advised to check the ArrowMark Financial website for updated information about the Company. The Company’s new website can be accessed at www.arrowmarkfinancialcorp.com. This reference to ArrowMark Financial’s website is intended to offer investors public access to the Company’s SEC filings and other material information. The website is not a part of this release.
About ArrowMark Financial Corp.
ArrowMark Financial is an SEC registered non-diversified, closed-end investment company listed on the NASDAQ Global Select Stock Market under the symbol “BANX”. Its investment objective is to provide stockholders with current income. ArrowMark Financial is managed by ArrowMark Asset Management, LLC. To learn more, visit www.arrowmarkfinancialcorp.com.
Disclaimer and Risk Factors:
There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results.
The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC's website at www.sec.gov and on the Company's website at www.arrowmarkfinancialcorp.com.
Contact:
Julie Muraco
212-468-5441
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