Tradeweb Markets Announces Closing of Follow-On Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares of Class A Common Stock
Ashley Serrao, Tradeweb + 1 646 430 6027
Daniel Noonan, Tradeweb +1 646 767 4677
NEW YORK – April 27, 2020 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the closing of its follow-on offering of 12,835,245 shares of its Class A common stock, including the full exercise by the underwriters of their option to purchase 1,674,162 shares of Class A common stock, at a price to the public of $50.25 per share.
Tradeweb received approximately $626.3 million in proceeds from the offering, net of underwriting discounts and commissions, but before estimated offering expenses. Tradeweb used the net proceeds from the offering to purchase equity interests from certain existing owners. Refinitiv continues to own a controlling interest in Tradeweb following the offering.
J.P. Morgan, Barclays, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley acted as joint lead book-running managers for the offering. BofA Securities, Credit Suisse, Deutsche Bank Securities and Wells Fargo Securities acted as joint book-running managers for the offering.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on April 22, 2020. The offering of these securities was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at firstname.lastname@example.org or toll-free at (866) 803-9204; Barclays Capital Inc., Attention Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at email@example.com, or by telephone at (888) 603-5847; Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by email at firstname.lastname@example.org or by telephone at (866) 471-2526; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than $780 billion in notional value traded per day over the past four fiscal quarters.