Houlihan Lokey Advises MKM Partners

Houlihan Lokey is pleased to announce that MKM Partners LLC has agreed to be acquired by Freedom Holding Corp. (Freedom). Under the terms of the agreement, Freedom will acquire all the member interest of MKM Partners for cash and Freedom common stock. The transaction was announced on December 3, 2021 and is subject to certain conditions, including the approval of FINRA.

MKM Partners is a Stamford-based firm focused on trading, research, sales, derivatives, event driven/risk arbitrage, proprietary studies, capital markets, corporate access, high yield/credit, and CSA. It is one of the largest trading firms in the United States and is ranked in the top tier in equity research. Michael Darda, MKM's Chief Economist/Market Strategist, leads a team of notable strategists and is one of the most quoted and well known economists on the Street with a global coverage span. Strategists on their team frequently appear on CNBC/Bloomberg, and they meet regularly with CIOs and CEOs of their largest clients to provide their unique data, content, and insights.

Freedom Holding Corp., a Nevada corporation, is a financial services holding company conducting retail financial securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services, and consumer banking through its subsidiaries under the name of Freedom Finance in Europe and Central Asia. The company employs more than 2,900 persons and is a professional participant in the Kazakhstan Stock Exchange, Astana International Exchange, Moscow Exchange, Saint-Petersburg Exchange, Ukrainian Exchange, Republican Stock Exchange of Tashkent, and Uzbek Republican Currency Exchange. Freedom Holding Corp. is also a member of the New York Stock Exchange and Nasdaq Stock Market. The company is headquartered in Almaty, Kazakhstan, with administrative office locations in Russia, Cyprus, and the United States. Freedom common shares are registered with the U.S. Securities and Exchange Commission and are traded in the United States on the Nasdaq Capital Market, operated by Nasdaq, Inc.

"MKM Partners is a well-respected institutional equity trading, sales, and research firm," said Timur Turlov, Freedom's CEO. "With one of the largest distribution forces in the U.S. and a team of distinguished strategists and research analysts, MKM will further enhance Freedom's international team and extend our activities focused on U.S. growth."

Upon closing, MKM will be led by Robert Wotczak as CEO and Sagar Sheth, current president of MKM Partners. "We see exciting symmetry between MKM Partners' business lines and Freedom that will enable new opportunities for growth. We expect integration of the companies to be accomplished smoothly given the continuity of management and personnel at MKM Partners," said Steven Messina, Co-CEO of MKM. "Freedom is a dynamic success story and will bring exciting opportunities for expansion to the MKM Partners team."

Houlihan Lokey served as the exclusive financial advisor.