Tradeweb Markets Announces Launch of Follow-On Offering and Preliminary First Quarter 2020 Financial Results
Ashley Serrao, Tradeweb + 1 646 430 6027
Daniel Noonan, Tradeweb +1 646 767 4677
NEW YORK – April 20, 2020 – Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced the launch of an underwritten offering of 10,950,000 shares of its Class A common stock, subject to market conditions and other factors. Tradeweb expects to grant the underwriters a 30-day option to purchase up to an additional 1,642,500 shares of Class A common stock at the public offering price, less the underwriting discounts and commissions.
In conjunction with this offering, Tradeweb Markets Inc. disclosed its preliminary financial results for the first quarter of 2020, which are discussed below and include GAAP and adjusted EPS of $0.25 and $0.37 respectively.
Tradeweb intends to use the net proceeds from the offering to purchase equity interests from certain existing owners. Refinitiv will continue to own a controlling interest in Tradeweb following the offering. J.P. Morgan, Barclays, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley are acting as the joint book-running managers for the offering.
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