On October 18, 2022, Siebert Financial Corp. entered into a Reorganization Agreement with Tigress Holdings, LLC (Tigress Holdings), whereby the Company exchanged 7% of the outstanding membership interests in Tigress Holdings for all of Tigress Holdings' ownership interest in the Company's subsidiary RISE Financial Services, LLC (RISE). The Company intends to sell its remaining interest in Tigress Holdings, representing 17% of the outstanding membership interests in Tigress Holdings, to Gloria E. Gebbia for a consideration to be determined subject to an independent fairness opinion.

Gloria E. Gebbia is a director and controlling shareholder of the Company.  Pursuant to the Reorganization Agreement, Cynthia DiBartolo will not stand for re-election to the Company's board of directors.