The LGL Group, Inc. announced on December 31, 2024, that it has entered into a Subscription Agreement to acquire 1,000,000 newly issued shares of Morgan Group Holding Company (MGHL) common stock. This transaction represents a majority stake in MGHL, a company that provides brokerage, underwriting, and institutional research services through its wholly owned subsidiary, G.research, LLC.
LGL Group will pay aggregate consideration of $2.27 million in cash for the acquisition, subject to adjustments. G.research, LLC is a FINRA member with over $5.0 billion of private client assets held in more than 1,000 accounts, and it also sponsors industry-focused investment conferences.
The transaction has received independent Board of Directors approval from LGL Group, as well as Board of Directors and shareholder approval from MGHL. The acquisition is expected to close in the first quarter of 2025, pending compliance and regulatory approvals, along with a market check by MGHL's Board of Directors.
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