BGC Partners, Inc. (Nasdaq: BGCP) ("BGC Partners"), a leading global inter-dealer broker of financial instruments, announced today that it has priced its public offering of shares of its Class A common stock.
20,000,000 shares of Class A common stock are being sold in the offering at $8.00 a share, 10,000,000 of which are primary shares, 3,926,178 of which are secondary shares being sold by Cantor Fitzgerald, L.P., and 6,073,822 of which are secondary shares being sold by limited partners of Cantor Fitzgerald, L.P., and founding partners of BGC Holdings, L.P.
BGC Partners and/or Cantor Fitzgerald, L.P., as a selling stockholder, at BGC Partners' election, have granted the underwriters an option to purchase up to 3,000,000 additional shares of Class A common stock in the offering for 30 days after the date hereof. BGC Partners will not receive any proceeds from sales of shares by selling stockholders.
The joint book running managers for the public offering are Deutsche Bank Securities Inc. and Cantor Fitzgerald & Co.; the co-lead managers are Wachovia Securities and BMO Capital Markets Corp.; and the co-managers are Keefe, Bruyette & Woods and CastleOak Securities, L.P.