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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
Date of Report (date of earliest event reported): April 15, 1999
Friedman, Billings, Ramsey Group, Inc.
(Exact name of Registrant as specified in its charter)
001-13731
(Commission File Number)
Virginia 54-1870350
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1001 Nineteenth Street North
Arlington, VA 22209
(Address of principal executive offices) (Zip code)
(703) 312-9500
(Registrant's telephone number including area code)
Item 5. Other Events
On April 15, 1999, Friedman, Billings, Ramsey Group, Inc. ("FBR Group")
issued a press release reporting its launch of fbr.com, a division of FBR
Investment Services, Inc. ("FBRIS"). FBRIS is a wholly owned subsidiary of FBR
Group. FBRIS is an investment bank and broker-dealer registered with the
Securities and Exchange Commission and is a member of the National Association
of Securities Dealers (NASD) and the Securities Investor Protection Corporation
(SIPC). FBRIS is registered in all 50 states. A copy of the press release is
being filed herewith.
The following Exhibit is filed as part of this report:
99.1 Press Release dated April 15, 1999.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRIEDMAN, BILLINGS, RAMSEY GROUP, INC.
By: /s/ Emanuel J. Friedman
Chief Executive Officer
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FRIEDMAN, BILLINGS, RAMSEY GROUP LAUNCHES FBR.COM
FIRST PUBLIC ONLINE INVESTMENT BANK
Starting Today, Online Investors Can Register to Participate in FBR's IPOs;
Up to 20% of Company's IPO Stock Allocation Available to Online Investors
Company Plans To Make Exclusive Venture Capital Investments and
Other Proprietary Financial Products Available on fbr.com
FBR's Preeminence in D.C.'s "Netplex" Technology Hub
To Provide Unique IPO and Venture Capital Opportunities for fbr.com Investors
ARLINGTON, VA, April 15, 1999 Friedman, Billings, Ramsey Group, Inc.
(NYSE:FBG), one of the nation's largest underwriters of initial public
offerings, today launched fbr.com the first public online investment bank
which, for the first time ever, significantly opens initial public offerings and
venture capital investments to online investors.
Starting immediately, online investors will have the opportunity to register to
participate in all the Company's future IPOs. The Company said up to 20% of all
its IPO stock allocations will be made available to fbr.com clients.
FBR said negotiations are underway with a variety of strategic partners to
further develop its financial services portal. In the near future, the Company
will make its exclusive venture capital investments and other proprietary
financial products available on fbr.com. And it will provide brokerage services
and world-class research, financial news, analytical tools and other related
content. With no brick-and-mortar retail operation, the Company said it is
uniquely positioned to focus on its online customers.
Although FBR's investment reach is nationwide, it is the largest capital markets
and money management firm in the "Netplex" hub surrounding Washington, D.C. -one
of the fastest-growing technology clusters in the world with 2,300 technology
companies.
The Company started the first venture capital fund headquartered in the region
that focused on Internet technology, and so far has made investments in 16
companies. Three of these companies Proxicom, CareerBuilder.com and Network
Access Solutions ** -are now in registration and will be going public shortly.
The Company will operate a "business incubator" to provide seed investments and
other start-up assistance to local high-technology entrepreneurs through
fbr.com.
FBR President W. Russell Ramsey said: "We are the first major IPO underwriter
to make the individual online investor a major focus of our IPO strategy. By
placing up to 20% of all IPO stock allocations in the hands of online investors,
fbr.com is underscoring that the Internet investment market is coming of age.
At FBR, we are fundamentally shifting all facets of our business to the online
world."
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Mr. Ramsey added: "We will continue to manage a broad range of IPOs and venture
capital investments, and believe FBR's increasing ties with the `Netplex'
technology hub around Washington, D.C. will contribute to these opportunities.
Because fbr.com is our only retail channel, we will focus on delivering the best
investment products and financial services available anywhere to our online
customers."
fbr.com is based at the Company's Arlington, VA headquarters and licensed to
conduct business in all 50 states.
Friedman, Billings, Ramsey Group, Inc. is a publicly traded, full-service
investment banking firm. Asset management operations include hedge funds,
venture capital and private equity partnerships, and the FBR family of mutual
funds. FBR makes a market in more than 400 securities and provides research
coverage on 430 publicly traded companies. fbr.com operates as a division of FBR
Investment Services, Inc., a wholly owned subsidiary of FBR.
** A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This communication shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction.
Statements concerning future performance, developments, negotiations or events,
concerning expectations for plans and objectives for future operations or for
growth and market forecasts, and any other guidance on present and future
periods, constitute forward-looking statements that are subject to a number of
factors, risks and uncertainties that might cause actual results to differ
materially from stated expectations. These factors include but are not limited
to the effect of demand for public offerings, activity in the secondary
securities markets, available technologies, competition for business and
personnel, and general economic, political and market conditions.
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