NEW YORK--(BUSINESS WIRE)--Cowen Inc. (NASDAQ:COWN) announced today that its previously announced public offering of $120 million of 7.35% senior notes due 2027 (the “2027 Notes”) closed on December 8, 2017. The net proceeds of the offering, after deducting the underwriting discount and estimated offering expenses payable by the Company, were approximately $115.6 million and will be used to redeem all of its 8.25% senior notes due 2021 and for general corporate purposes.

Morgan Stanley, UBS Investment Bank and Cowen are acting as joint book-running managers, and JMP Securities and Ladenburg Thalmann are serving as co-managers for the offering.

About Cowen Inc.

Cowen Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, prime brokerage, global clearing and commission management through its two business segments: Cowen Investment Management and its affiliates make up the Company's alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company's broker-dealer segment. Cowen Investment Management provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide. For additional information, visit www.cowen.com.