Virtu Financial (VIRT) Prices 9M Class A Share Upsized Secondary Offering

Virtu Financial, Inc. (NASDAQ: VIRT) announced today the pricing of the previously announced underwritten secondary offering of its Class A common stock. The size of the secondary offering was increased from 7,000,000 shares to 9,000,000 shares of Virtu’s Class A common stock.

The offering includes 9,000,000 shares of Class A common stock sold by Virtu, the net proceeds of which will be used to purchase an equivalent number of common interest units in Virtu Financial LLC and corresponding shares of Class D common stock from TJMT Holdings LLC (“TJMT”), an affiliate of Mr. Vincent Viola, our Founder and Chairman Emeritus. Following the closing of the transactions, TJMT will remain Virtu’s largest stockholder, and will continue to own over 60 million common interest units in Virtu Financial LLC and corresponding shares of Class D common stock, representing an economic interest of approximately 31% in Virtu Financial LLC. Virtu will retain no net proceeds from the offering.

Morgan Stanley and Sandler O’Neill + Partners, L.P. are acting as the joint book-running managers and underwriters for the offering, and may offer the shares of Class A common stock purchased by them from time to time in one or more transactions on The NASDAQ Stock Market LLC, in the over-the-counter market or through negotiated transactions at market prices or negotiated prices.

You May Also Be Interested In

• QXO receives high participation in TopBuild debt tender offers
• SEC proposes eliminating Order Protection Rule for trading
• 3 E Network CEO outlines robotics strategy focused on edge AI chips