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Secondary offering of Virtu Financial common shares prices

Virtu Financial Inc. said the underwritten secondary offering of 15 million of its class A common shares was priced at $28 apiece.

The offering includes 6,281,250 class A common shares held by selling shareholders and 8,718,750 class A common shares offered by the company.

The selling shareholders are TJMT Holdings LLC, an affiliate of Virtu founder and chairman emeritus Vincent Viola, and Havelock Fund Investments Pte Ltd.

The underwriters have an option to purchase up to 450,000 additional class A common shares from Havelock and up to 1.8 million additional class A common shares from Virtu.

The net proceeds received by Virtu will be used to purchase an equivalent number of common interest units in Virtu Financial LLC and corresponding class D common shares. The selling shareholders will receive all of the net proceeds from their sales. Virtu will retain no net proceeds from the offering.

Jefferies LLC, Morgan Stanley & Co. LLC and Sandler O'Neill & Partners LP are acting as the joint book-running managers and underwriters for the offering. BMO Capital Markets Corp. is acting as co-manager.