Virtu Financial sells 7M shares to buy LLC stake from founder

|About: Virtu Financial, Inc. (VIRT)|By:, SA News Editor

Virtu Financial Inc. (NASDAQ:VIRTslips 1.3% in after-hours trading after starting an offering of 7M shares of class A common stock.

Net proceeds will be used to buy an equivalent number of common units in Virtu Financial LLC and corresponding shares of class D common stock from TJMT Holdings, an affiliate of Vincent Viola, Virtu's founder and chairman emeritus.

TJMT will remain Virtu's largest stockholder and will continue to own more than 62M common interest units in Virtu Financial LLC and corresponding shares of class D common stock, representing an economic interest of about 32% in Virtu Financial LLC.

Previously: Virtu Financial closes on $1B ITG deal (March 1)

Subscribe for full text news in your inbox