MarketAxess Announces the Pricing of Secondary Public Offering of 3,597,333 Shares of Common Stock
NEW YORK--(BUSINESS WIRE)--Feb. 22, 2012--
MarketAxess Holdings Inc. (Nasdaq: MKTX) (the “Company”) today announced
the pricing of a registered underwritten secondary public offering of
3,597,333 shares of
MarketAxess Holdings common stock at a public
offering price of
$30.50 per share. The selling stockholders are
affiliates of
J.P. Morgan Chase & Co. The Company will not receive any
of the proceeds of the offering. The closing of the offering is expected
to occur on
February 28, 2012, subject to the satisfaction of customary
closing conditions.
In addition, the Company has entered into an agreement with the selling
stockholders to repurchase 1,821,730 shares of MarketAxess
Holdings non-voting common stock at the price per share in the offering
less the underwriting discount, contingent on the consummation of the
offering. After the offering and the share repurchase, the selling
stockholders will no longer hold shares of common stock in the Company.
J.P. Morgan Securities LLC is acting as the sole book-running manager
for the offering. An automatic shelf registration statement relating to
the shares of common stock issued in the offering was filed with the
Securities and Exchange Commission. A preliminary prospectus supplement
relating to the offering has been filed and a final prospectus
supplement will be filed with the Securities and Exchange Commission.
When available, a copy of the final prospectus supplement and the
accompanying base prospectus relating to these securities may be
obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone number
866-803-9204). You may also get these documents for free by visiting the
Securities and Exchange Commission’s website at www.sec.gov.
About MarketAxess
MarketAxess operates a leading electronic trading platform that enables
investment industry professionals to efficiently trade corporate bonds
and other types of fixed-income instruments. MarketAxess maintains its
headquarters in New York and has offices in London, Chicago and Salt
Lake City.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including
statements about the outlook and prospects for the Company and industry
growth, as well as statements about the Company’s future financial and
operating performance. Investors are cautioned that these and other
statements that relate to future results and events are based on
MarketAxess’ current expectations. Actual results in future periods may
differ materially from those currently expected or desired because of a
number of risks and uncertainties, including: the level and intensity of
competition in the fixed-income electronic trading industry and the
pricing pressures that may result; the variability of our growth rate;
the rapidly evolving nature of the electronic financial services
industry; the level of trading volume transacted on the MarketAxess
platform; the absolute level and direction of interest rates and the
corresponding volatility in the corporate fixed-income market; our
ability to develop new products and offerings and the market’s
acceptance of those products; our exposure to risks resulting from
non-performance by counterparties to transactions executed between our
clients in which we act as an intermediary in matching back-to-back
trades; our dependence on our broker-dealer and institutional investor
clients; our ability to enter into strategic alliances and to acquire
other businesses and successfully integrate them with our business; the
integrity and security of our electronic trading platform, systems and
infrastructure; our ability to protect our intellectual property; our
ability to retain our management team and attract and retain
highly-skilled employees; domestic and international regulatory trends
affecting us and our clients; potential litigation; industry-specific
trends; and other factors including the risk factors in the prospectus
supplement relating to the shares of common stock. The Company’s actual
results and financial condition may differ, perhaps materially, from the
anticipated results and financial condition in any such forward-looking
statements. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. More information about these and other
factors affecting MarketAxess’ business and prospects is contained in
MarketAxess’ periodic filings with the Securities and Exchange
Commission.
Source: MarketAxess Holdings Inc.
MarketAxess Holdings Inc.
Tony DeLise, +1-212-813-6017
or
Florencia
Panizza, +1-212-813-6029
or
William McBride & Associates
William
McBride, +1-917-239-6726