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Offering of Virtu Financial common shares closes

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Offering of Virtu Financial common shares closes

The underwritten public offering of 17,250,000 of Virtu Financial Inc. class A common shares by the company and certain selling shareholders has closed.

The number of shares included the underwriters' exercise in full of their option to buy additional shares. The purchase price per share was $27.16. The offering price to the public was $28.00 minus the underwriters' discount.

Virtu Financial sold 10,518,750 class A common shares and used the net proceeds to purchase an equivalent number of common interest units in Virtu Financial LLC and corresponding class D common shares from Havelock Fund Investments Pte Ltd.

The selling shareholders sold 6,731,250 common shares, including 2,081,250 common shares issued by the company to founder and chairman emeritus Vincent Viola. The selling shareholders are Viola, TJMT Holdings LLC and Havelock.

The underwriters exercised in full their option to purchase up to an additional 1.8 million common shares to be sold by the company and an additional 450,000 class A common shares from one of the selling shareholders.

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