Subsequent Events

3 Months Ended

Mar. 31, 2020

Subsequent Events

Subsequent Events

18.          Subsequent Events

On May 6, 2020, 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 second quarter of 2020. This dividend will be payable on June 15, 2020 to stockholders of record as of June 1, 2020.

On May 5, 2020, 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 $18.1 million payable on June 11, 2020.

April 2020 Follow-On Offering

On April 27, 2020, Tradeweb Markets Inc. completed its follow-on offering of 12,835,245 shares of Class A Common stock at a public offering price of $50.25 per share, which included 1,674,162 shares of Class A common stock issued pursuant to the underwriters’ option to purchase additional shares of Class A common stock. Tradeweb Markets Inc. received net proceeds of $626.3 million, after deducting underwriting discounts and commissions but before deducting estimated offering expenses, which were used to purchase (i) 12,238,827 issued and outstanding LLC Interests from certain of the Bank Stockholders (and the corresponding shares of common stock held by such holders were cancelled) and (ii) 596,418  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 $50.25, less the underwriting discounts and commissions payable thereon. As of May 1, 2020, Tradeweb Markets Inc. owns 80.0% of TWM LLC and the Continuing LLC Owners own the remaining 20.0% of TWM LLC.