Virtu -4.8% after boosting deal to buy stake from founder

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

Virtu Financial (NASDAQ:VIRTsinks 4.8% after boosting its offering of shares of class A common stock to 9M from 7M.

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

After the transactions, TJMT will hold an economic interest of ~31% in Virtu Financial LLC, still its biggest shareholder.

Virtu said the offering priced, but didn't give any figures.

Virtu won't keep any net proceeds from the offering.

Previously: Virtu Financial sells 7M shares to buy LLC stake from founder (May 14)

Subscribe for full text news in your inbox