trending Market Intelligence /marketintelligence/en/news-insights/trending/dMOkDRRRx6QNx-hp9gSyEA2 content esgSubNav
In This List

Underwriters fully exercise overallotment option in Newmark Group IPO

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

Insight Weekly: Reviving nuclear power; 2023 outlook for US financials; PE funds fuel EV sector


Underwriters fully exercise overallotment option in Newmark Group IPO

BGC Partners Inc. and Newmark Group Inc. said underwriters in Newmark's initial public offering fully exercised their overallotment option to acquire a further 3 million shares of class A common stock at $14.00 apiece.

Newmark attracted net proceeds of roughly $298.3 million in total from the offering. Upon the closing of the overallotment option Dec. 26, Newmark's public stockholders own roughly 16.6% of the shares of its class A common stock.

Goldman Sachs & Co. LLC, BofA Merrill Lynch and Citigroup served as joint book-running managers for the offering.

Cantor Fitzgerald & Co. acted as a book runner, while PNC Capital Markets LLC, Mizuho Securities, Capital One Securities and Keefe Bruyette & Woods served as passive book runners.

Sandler O'Neill + Partners LP, Raymond James, Regions Securities LLC, CastleOak Securities LP and Wedbush Securities acted as co-managers.