Nasdaq Prices Secondary Public Offering Of 41.604 Mln Shares At $65.30/share

(RTTNews) - Nasdaq, Inc. (NDAQ) on Monday announced the pricing of a previously announced secondary public offering by Argus Seller, LP or the selling stockholder, an affiliate of certain funds managed by Thoma Bravo, L.P., of 41.604 million shares of Nasdaq at $65.30 per share.

The offering, in which Nasdaq is not selling any shares, is expected to be closed on July 30.

Nasdaq will not receive any proceeds from the sale of the shares by the selling stockholder.

In addition, on July 25, Nasdaq had entered into a share repurchase deal with the selling stockholder conditioned on the secondary public offering, pursuant to which Nasdaq has agreed to purchase 1.2 million shares from the seller.

This concurrent share repurchase is part of the company's existing share repurchase program and offsets employee dilution.

Nasdaq intends to fund the concurrent share repurchase from existing cash on hand, together with borrowings under its commercial paper program.

At the completion of the offering and the concurrent share repurchase, the selling stockholder is expected to hold 42.804 million shares, representing around 7.4 percent of Nasdaq's shares, which remain subject to an existing contractual lock-up until May 1, 2025.