MarketAxess (MKTX) Announces 3.6M Common Secondary Offering
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MarketAxess Holdings Inc. (Nasdaq: MKTX) announced that certain of its stockholders have commenced a registered underwritten secondary public offering of an aggregate of 3,597,333 shares of MarketAxess Holdings common stock. The selling stockholders are affiliates of J.P. Morgan Chase & Co., which currently own approximately 14 percent of the Company’s outstanding common stock and non-voting common stock. The Company will not receive any of the proceeds of the offering.
In addition, the Company has entered into an agreement with the selling stockholders to repurchase 1,821,730 shares of MarketAxess Holdings non-voting common stock at the price per share in the offering less the underwriting discount, contingent on the consummation of the offering. After the offering and the share repurchase, the selling stockholders will no longer hold shares of common stock in the Company.
In addition, the Company has entered into an agreement with the selling stockholders to repurchase 1,821,730 shares of MarketAxess Holdings non-voting common stock at the price per share in the offering less the underwriting discount, contingent on the consummation of the offering. After the offering and the share repurchase, the selling stockholders will no longer hold shares of common stock in the Company.
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