Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events

SUBSEQUENT EVENTS

21.          Subsequent Events

On October 22, 2019, Tradeweb Markets Inc. completed its follow-on offering of 17,287,878 shares of Class A Common stock at a public offering price of $42.00 per share. The underwriters have a 30-day option to purchase up to an additional 2,593,181 shares of Class A common stock at the public offering price, less the underwriting discounts and commissions. Tradeweb Markets Inc. received net proceeds of $704.3 million, after deducting underwriting discounts and commissions but before deducting estimated offering expenses, which were used to purchase (i) 17,259,961 issued and outstanding LLC Interests from certain of the Bank Stockholders and certain of our executive officers (and the corresponding shares of common stock held by such holders were cancelled) and (ii) 27,917 issued and outstanding shares of Class A common stock from certain of our executive officers (and such shares of Class A common stock were cancelled), at a purchase price per interest and share equal to the public offering price of $42.00, less the underwriting discounts and commissions payable thereon. As of November 1, 2019, Tradeweb Markets Inc. owns 72.2% of TWM LLC and the Continuing LLC Owners own the remaining 27.8% of TWM LLC.

On November 6, 2019, the board of directors of Tradeweb Markets Inc. declared a cash dividend of $0.08 per share of Class A common stock and Class B common stock for the fourth quarter of 2019. This dividend will be payable on December 16, 2019 to stockholders of record as of December 2, 2019.

On November 5, 2019, Tradeweb Markets Inc., as the sole manager, approved a distribution by TWM LLC to its equityholders, including Tradeweb Markets Inc., in an aggregate amount of $45.8 million payable on December 13, 2019.