Cowen Group, Inc. Announces Closing of Public Offering of 8.25% Senior Notes Due 2021

NEW YORK–(BUSINESS WIRE)–Oct. 10, 2014–
Cowen Group, Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) announced
today the closing of its previously announced public offering of $63.25
million
of 8.25% senior notes due 2021 (the “Notes”). The offering
included $8.25 million aggregate principal amount of Notes pursuant to
the exercise in full by the underwriters of their over-allotment option.
The net proceeds of the offering, after deducting the underwriting
discount and estimated offering expenses payable by the Company, were
approximately $60.41 million and are expected to be used to capitalize a
new commercial finance company being formed by Cowen that would
structure, underwrite and syndicate a broad range of loans to middle
market commercial borrowers and for general corporate purposes. The
closing of the Notes offering occurred on October 10, 2014.

Sterne Agee, Janney Montgomery Scott and Cowen and Company are acting as
joint book-running managers, and Wunderlich Securities, Incapital, JMP
Securities
and Ladenburg Thalmann are serving as co-managers for the
offering.

This offering was made only by the prospectus supplement and the
accompanying base prospectus related to the offering of the notes
(collectively, the “prospectus”). The notes were issued pursuant to an
effective shelf registration statement previously filed on Form S-3 with
the U.S. Securities and Exchange Commission. The preliminary prospectus
and the final prospectus were filed with the SEC and are and will be
available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus and the final prospectus may also
be obtained by contacting Sterne Agee at 277 Park Avenue, 24th Floor,
New York, New York 10172, 212-338-4708, syndicate@sterneagee.com
or Janney Montgomery Scott at 1717 Arch St, Philadelphia, PA 19103,
215-665-6170, preinhart@janney.com.

This press release does 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 state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative asset
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates makes up
the Company’s alternative investment segment, while Cowen and Company
and its affiliates make up the Company’s broker-dealer segment. Ramius
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 and a
sales and trading platform for institutional investors. Founded in 1918,
the firm is headquartered in New York and has offices worldwide.

Source: Cowen Group, Inc.

Cowen Group, Inc.
Stephen Lasota, 212-845-7919

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