MIAX announces secondary offering of 6.75 million shares

Miami International Holdings Inc. (NYSE: MIAX) announced a proposed secondary public offering of 6.75 million shares of common stock, including shares to be issued upon warrant exercise. The offering consists entirely of secondary shares sold by existing stockholders.

The company will not sell any shares in the offering and will not receive proceeds from the transaction. Underwriters have a 30-day option to purchase up to an additional 1.01 million shares from the selling stockholders.

J.P. Morgan, Morgan Stanley and Piper Sandler serve as lead joint bookrunning managers for the offering. Raymond James, Rosenblatt, William Blair, and Keefe, Bruyette & Woods act as joint bookrunning managers.

The company filed a registration statement on Form S-1 with the Securities and Exchange Commission, though it has not yet become effective. Shares cannot be sold until the registration statement becomes effective.

Miami International Holdings operates regulated financial markets across multiple asset classes. The company runs nine exchanges including MIAX Options, MIAX Pearl, MIAX Emerald, MIAX Sapphire, MIAX Pearl Equities, MIAX Futures, MIAXdx, The Bermuda Stock Exchange and The International Stock Exchange. The company also owns Dorman Trading, a futures commission merchant.

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