Flexibility Keeping Corp. Enters into Settlement to Receive Expense Lender Maxim Group to Extend U.S. Existence

Acquisition will grow cash markets, investigation, and expenditure banking capabilities

ALMATY, Kazakhstan & NEW YORK, February 16, 2023–(Organization WIRE)–Freedom Holding Corp. (Nasdaq: FRHC), a diversified multi-nationwide financial expert services organization, declared right now that it has attained a definitive agreement to obtain Maxim Team LLC and its registered expenditure advisory affiliate Maxim Fiscal Advisors LLC (with each other “Maxim Team”), for a mix of cash and common stock. Together with deferred payments and retention bonuses, the total thought for the acquisition will be around $400 million (USD). Flexibility carries on its strategy of acquisitions adhering to its 2020 purchase of Prime Executions, Inc., an institutional trading organization with functions on the floor of the New York Inventory Trade which was lately authorised to carry out expense banking and fairness funds market place organizations less than Flexibility Cash Marketplaces.

Maxim Team is a foremost full-provider financial commitment bank headquartered in New York, that caters to rising expansion corporations globally. Its business enterprise traces incorporate expenditure banking, equity capital marketplaces and institutional income, equity study, service provider cash, and corporate and wealth administration companies. Maxim Group’s corporate and institutional arrive at into Asia, Greece, Israel, and most of Western Europe will enhance Freedom’s brokerage and worldwide distribution network. Jointly, the blended entity will deliver a wide suite of item choices to meet the desires of its varied world-wide consumer foundation.

Timur Turlov, CEO of Independence Keeping Corp., stated, “We are dedicated to growing our worldwide footprint, and we understand that obtaining a substantial U.S. presence is an critical section of this system. Including Maxim to our group as a dependable companion via this cornerstone transaction will turbocharge our growth as we carry on to extend our U.S. functions.”

The moment the transaction is complete, Robert Wotczak, Chief Executive Officer of Freedom’s U.S. operations, will be appointed Government Chairman of Maxim Group and its subsidiaries, Clifford Teller will be promoted to Chief Executive Officer, and Chris Fiore, one particular of the Founders of Maxim Team, will continue being as President.

Tale continues

“We seem forward to constructing on Maxim’s history of success and constant profitability in various marketplace situations,” mentioned Robert Wotczak. “Owning labored alongside a lot of Maxim staff associates during my vocation, I have huge respect for and confidence in this team’s means to accelerate advancement across all small business divisions.”

“We are wanting forward to performing with the Liberty crew in constructing a world-course fiscal solutions company,” reported Clifford Teller, President of Maxim Team. “With Freedom’s differentiated distribution network, vast assets, and the synergies amongst the firms, Maxim will have the skill to extend exponentially in all regions of the investment decision lender even though generating unique U.S. cash marketplace alternatives for our shoppers.”

“I am very proud of the results Maxim Team has realized in excess of its twenty-calendar year historical past. Speaking for our senior management and all of our dedicated staff, we appear forward to starting off our up coming chapter and functioning with an extremely potent and proficient associate in Freedom,” said Michael Rabinowitz, Chairman of Maxim Group.

Completion of the transaction is subject to certain situations and the receipt of necessary regulatory approvals.

About Liberty Holding Corp.

Liberty Keeping Corp., a Nevada company, is a monetary providers keeping corporation conducting retail fiscal securities brokerage, expenditure study, investment counseling, securities trading, financial investment banking and underwriting providers, home loans, insurance plan, and purchaser banking by means of its subsidiaries underneath the identify of Liberty Finance in Europe and Central Asia. Via its subsidiaries, Freedom Holding Corp. employs a lot more than 2,900 men and women and is a qualified participant in the Kazakhstan Inventory Exchange, the Astana International Trade, the Ukrainian Exchange, the Republican Stock Exchange of Tashkent, and the Uzbek Republican Currency Exchange and is a member of the New York Inventory Trade and the Nasdaq Stock Exchange.

Freedom Keeping Corp. is headquartered in Almaty, Kazakhstan, and has a existence in 14 nations around the world, including Cyprus, the United States, Uzbekistan, the United Kingdom, and Germany.

Independence Holding Corp.’s popular shares are registered with the United States Securities and Exchange Commission and are traded in the United States on the Nasdaq Capital Market place, operated by Nasdaq, Inc.

To study extra about Freedom Holding Corp., visit www.freedomholdingcorp.com.

About Maxim Group LLC

Maxim Group LLC is a complete-company expenditure banking firm headquartered in New York with about 240 staff members. Maxim Team offers a comprehensive array of money solutions, which includes financial investment banking private wealth management and worldwide institutional equity, preset-profits, and derivatives revenue and buying and selling, as nicely as fairness study. The investment banking group focuses on middle marketplace and emerging advancement corporations within just the delivery, strength, health treatment, technology, retail, and business and money products and services sectors. The institutional protection of Maxim Group spans North and South The us, Europe, and Asia. Maxim Team LLC is registered as a broker-seller with the U.S. Securities and Exchange Commission and is a member of the adhering to: Monetary Business Regulatory Authority (FINRA) Municipal Securities Rulemaking Board (MSRB) Securities Insurance Security Corporation (SIPC) NASDAQ Inventory Sector and the NYSE Arca, Inc.

To discover more about Maxim Team, visit www.maximgrp.com.

Cautionary Be aware With regards to Ahead-Wanting Statements

This release contains “forward-searching” statements, together with with regard to the skill of Flexibility Holding Corp. (the “Organization”) to efficiently complete the transaction explained herein and its capacity to increase its functions in the United States. All forward-on the lookout statements are subject matter to uncertainty and improvements in instances. In some cases, ahead-looking statements can be determined by terminology these kinds of as “anticipate,” “new,” “program,” “request,” and “will,” or the unfavorable of these kinds of conditions or other comparable terminology made use of in connection with any discussion of foreseeable future ideas, steps, and functions. Forward-seeking statements are not assures of future final results or overall performance and involve threats, assumptions, and uncertainties that could trigger true activities or results to differ materially from the functions or benefits explained in, or predicted by, the ahead-looking statements. Variables that could materially influence these kinds of ahead-hunting statements incorporate specific financial, enterprise, and regulatory challenges and things identified in the Company’s periodic and latest studies filed with the U.S. Securities and Trade Commission. All forward-looking statements are produced only as of the date of this release and the Firm assumes no obligation to update ahead-looking statements to mirror subsequent events or situations. Visitors should not put undue reliance on these ahead-looking statements.

Web-site Disclosure

Liberty Keeping Corp. intends to use its web page, https://ir.freedomholdingcorp.com, as a usually means for disclosing product non-general public information and facts and for complying with U.S. Securities and Trade Commission Regulation FD and other disclosure obligations.

Perspective supply version on businesswire.com: https://www.businesswire.com/news/dwelling/20230216005424/en/

Contacts

Media:
Liberty Keeping:
Deborah Kostroun
Cellphone: 201-403-8185
E-mail: [email protected]

Maxim Team:
Ian Hummel
Cellular phone: 212-895-3700
[email protected]