ITG launches IPO roadshow, seeks Nasdaq listing at up to $22 per share

ITG, Inc. (NYSE: ITG), a provider of services to the communications and digital infrastructure industries, has launched a roadshow for a proposed initial public offering of its Class A common stock.

The company is offering 19,512,196 shares of Class A common stock, with an expected price range of $19.00 to $22.00 per share. The company and a selling stockholder also intend to grant underwriters a 30-day option to purchase up to an additional 2,168,635 and 758,194 shares, respectively.

ITG has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "ITG."

The company said it intends to use net proceeds to repay outstanding principal under its revolving credit facility and term loan facility, with any remaining proceeds directed toward general corporate purposes. Proceeds from any exercise of the underwriters' option to purchase additional shares will be used to redeem equity interests in an operating subsidiary held by certain existing equity owners controlled by Oaktree Capital Management, L.P. ITG will not receive proceeds from shares sold by the selling stockholder.

Morgan Stanley, Citigroup, UBS Investment Bank, and Stifel are acting as joint bookrunners and representatives of the underwriters. BofA Securities, Baird, Santander, KeyBanc Capital Markets, and Truist Securities are also acting as joint bookrunners. Houlihan Lokey, BTIG, Capital One Securities, and Regions Securities LLC are acting as co-managers.

A registration statement has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The proposed offering is subject to market conditions.

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