BGC Partners, Inc. (NASDAQ:BGCP) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet ArrangementItem 2.04Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
The information set forth under Item 2.04 is incorporated herein by reference.
On December26, 2017, Newmark Group, Inc. (the “Newmark”) completed the sale of an additional 3,000,000 shares of Newmark’s ClassA common stock, par value $0.01 per share, to the underwriters of Newmark’s recently completed initial public offering at the initial public offering price of $14.00 per share ($13.23 per share after deducting underwriting discounts and commissions) to the underwriters’ full exercise of the overallotment option granted to the underwriters in connection with Newmark’s initial public offering (the “Overallotment Option”). Newmark received approximately $39.7million in net proceeds, all of which Newmark used to partially repay indebtedness under a certain term loan that Newmark assumed from BGC Partners, Inc. (“BGC”) prior to the closing of Newmark’s initial public offering.
On December26, 2017, BGC and Newmark issued a joint press release to announce the closing of the sale to the Overallotment Option. A copy of the press release is filed as Exhibit 99.1 hereto and incorporated herein by reference.
| Item 2.04 | Financial Statements and Exhibits. |
| (d) | Exhibits. The Exhibit Index set forth below is incorporated herein by reference. |
EXHIBITINDEX
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ExhibitNo. |
Description |
| 99.1 | Press Release dated December26, 2017 |
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BGC PARTNERS, INC. | |
| By: |
/s/ Howard W. Lutnick |
| Name: | Howard W. Lutnick |
| Title: | Chairman and Chief Executive Officer |
Date: December26, 2017
[BGC Partners, Inc. ExhibitEX-99.1 2 d487725dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 BGC PARTNERS AND NEWMARK GROUP ANNOUNCE EXERCISE AND CLOSING OF OVERALLOTMENT OPTION FOR THE NEWMARK GROUP INITIAL PUBLIC OFFERING NEW YORK,…To view the full exhibit click here
About BGC Partners, Inc. (NASDAQ:BGCP)
BGC Partners, Inc. (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions. Its integrated platform is designed to provide flexibility to customers with regard to price discovery, execution and processing of transactions, and enables them to use voice, hybrid, or in various markets, electronic brokerage services in connection with transactions executed either over-the-counter or through an exchange. Through the Company’s FENICS, BGC Trader, BGC Market Data and Capitalab brands, it offers electronic brokerage, financial technology solutions, market data, post-trade services, and analytics related to select financial instruments and markets.
