NEW YORK, Dec. 26, 2017 /PRNewswire/ -- BGC Partners, Inc.
(NASDAQ: BGCP) ("BGC") and Newmark Group, Inc. (NASDAQ: NMRK)
("Newmark"), announced today that the underwriters of Newmark's
initial public offering have exercised in full their overallotment
option to purchase an additional 3 million shares of Newmark's
Class A common stock from Newmark at the initial public offering
price of $14.00 per share, less
underwriting discounts and commissions (the "option"). The exercise
of the option closed on December 26,
2017. As a result, Newmark has received aggregate net
proceeds of approximately $298.3
million from the initial public offering, after deducting
underwriting discounts and commissions and estimated offering
expenses.
Newmark's Class A common stock began trading on the NASDAQ
Global Select Market under the symbol "NMRK" on December 15, 2017. Upon the closing of the
option, Newmark's public stockholders own approximately 16.6% of
the shares of Newmark's Class A common stock. This is based on
138.6 million shares of Newmark's Class A common stock outstanding
following the closing of the option. Upon the closing of the
option, Newmark's public stockholders own approximately 9.8% of
Newmark's 233.6 million fully diluted shares outstanding.
Goldman Sachs & Co. LLC, BofA Merrill Lynch, and Citigroup
acted as joint book-running managers for the offering. Cantor
Fitzgerald & Co. acted as a book-runner for the offering.
PNC Capital Markets LLC, Mizuho Securities, Capital One
Securities, and Keefe, Bruyette & Woods acted as passive
book-runners for the offering. Sandler O'Neill + Partners, L.P.,
Raymond James, Regions Securities
LLC, CastleOak Securities, L.P., and Wedbush Securities acted as
co-managers for the offering.
A registration statement relating to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. Copies of the registration statement can be
accessed through the SEC's website at www.sec.gov. The offering was
made only by means of a prospectus. Copies of the final prospectus
relating to the offering may be obtained from Goldman Sachs &
Co. LLC, at: Goldman Sachs & Co. LLC, Prospectus Department,
200 West Street, New York, NY 10282; telephone:
1-866-471-2526, facsimile: 212-902-9316 or by
emailing prospectusgroup-ny@ny.email.gs.com; BofA Merrill
Lynch, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attn: Prospectus Department, or by
email at dg.prospectus_requests@baml.com; Citigroup at:
Citigroup c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or by telephone: 800-831-9146;
or Cantor Fitzgerald & Co., Attn: Prospectus Group, 499 Park
Avenue, New York, NY 10022, or by telephone at
1-212-915-1067 or by email at prospectus@cantor.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, 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 BGC Partners, Inc.
BGC Partners is a leading
global brokerage company servicing the financial and real estate
markets. BGC owns GFI Group Inc., a leading intermediary and
provider of trading technologies and support services to the global
OTC and listed markets. BGC's Financial Services offerings include
fixed income securities, interest rate swaps, foreign exchange,
equities, equity derivatives, credit derivatives, commodities,
futures, and structured products. BGC provides a wide range of
services, including trade execution, broker-dealer services,
clearing, trade compression, post trade, information, and other
services to a broad range of financial and non-financial
institutions. Through brands including FENICS, BGC Trader,
Capitalab, Lucera, and FENICS Market Data, BGC offers financial
technology solutions, market data, and analytics related to
numerous financial instruments and markets. BGC's customers include
many of the world's largest banks, broker-dealers, investment
banks, trading firms, hedge funds, governments, corporations,
property owners, real estate developers, and investment firms.
BGC's Class A common stock trades on the NASDAQ Global Select
Market under the ticker symbol (NASDAQ: BGCP). BGC also has an
outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock
Exchange under the symbol (NYSE: BGCA).
About Newmark Group, Inc.
Newmark is a full-service
commercial real estate services business that offers a complete
suite of services and products for both owners and occupiers across
the entire commercial real estate industry through brands,
including Newmark Knight Frank,
Newmark Cornish & Carey,
Apartment Realty Advisors ("ARA"), Computerized Facility
Integration, and Excess Space. Newmark's investor/owner services
and products include capital markets, which consists of investment
sales, agency leasing, property management, valuation and advisory,
diligence, underwriting and, under other trademarks and names like
Berkeley Point and NKF Capital Markets, government sponsored
enterprise lending, loan servicing, debt and structured finance and
loan sales. Newmark's occupier services and products include tenant
representation, real estate management technology systems,
workplace and occupancy strategy, global corporate services
consulting, project management, lease administration and facilities
management. Newmark enhances these services and products through
innovative real estate technology solutions and data analytics
designed to enable its clients to increase their efficiency and
profits by optimizing their real estate portfolio. Newmark has
relationships with many of the world's largest commercial property
owners, real estate developers and investors, as well as Fortune
500 and Forbes Global 2000 companies. Newmark's Class A common
stock trades on the NASDAQ Global Select Market under the ticker
symbol (NASDAQ: NMRK).
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