Tradeweb Markets Inc. priced its follow-on offering of 17,287,878 class A common shares at a price to the public of $42.00 per share.
In addition, the underwriters have a 30-day option to buy up to an additional 2,593,181 shares at the public offering price, less the underwriting discounts and commissions.
The offering is expected to close Oct. 22.
The company will use net proceeds from the transaction to purchase equity interests from certain existing owners. Refinitiv will continue to own a controlling interest in Tradeweb Markets following the offering, according to a news release.
J.P. Morgan, Barclays, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead book-running managers for the offering, while BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, UBS Investment Bank and Wells Fargo Securities are serving as joint book-running managers. Jefferies, Rosenblatt Securities and Sandler O'Neill & Partners LP are acting as co-managers.