Posts for Ticker ‘BGCP’

BGC Partners Prices Secondary (BGCP)

BGC Partners, Inc. (NASDAQ: BGCP) priced its public secondary offering of 820 million shares at $8.00 per share. 

According to the company, 10,000,000 of these 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.

Joint book-running managers are listed as Deutsche Bank and Cantor Fitzgerald; co-lead managers are Wachovia Securities and BMO Capital Markets; and co-managers are Keefe Bruyette & Woods and CastleOak Securities.  The underwriters were granted an option to purchase up to 3,000,000 additional shares for 30 days after offering.

Its market cap was listed as $589 million.  This is a 1% discount to yesterday’s $8.08 close and down from $9.00 just 5 days ago.  Its 52-week trading range is $7.02 to $12.97.

You can join our open email distribution list to hear about other secondary offerings, mergers, special financings, IPO’s, restructurings, and other special situations.

Jon C. Ogg
June 6, 2008

Posted on: June 6, 2008 – 7:32 am in Brokerage Firms, Secondary Offering,

BGC Partners Unloading Stock (BGCP)

BGC Partners (NASDAQ: BGCP), formerly eSpeed, has made a shelf filing with the SEC.  It intends to offer up to $460 million additional Class A Common Stock.  Interestingly enough, the he global inter-dealer broker currently has its market cap is listed as $602 million.

The company intends to used the proceeds for the offering for buying back Class A Common Stock from certain executive officers, as well as any other general corporate purposes.

The underwriter for the offering is Deutsche Securities.The company generated a net income of $31 million in 2007. Shares are down marginally by $0.07 to $11.91. The 52-week range is $7.02 to $12.97.

You can join our open email distribution list to hear about other secondary offerings, buybacks, IPO’s, special financings, restructurings and more.

Jon C. Ogg
April 18, 2008

Jon Ogg is a producer and editor of the Special Situation newsletter and the "10 Stocks Under $10" weekly newsletter for 247Wallst.com.

Posted on: April 18, 2008 – 11:06 am in Brokerage Firms, Secondary Offering,