Virtu Financial Inc. (NASDAQ: VIRT) has announced its intention to hold meetings with potential investors for a potential opportunistic offering of senior secured first lien notes. The proceeds from this offering are expected to be used to repay a portion of the outstanding borrowings under its senior secured first lien term loan facility due 2029. The company clarified that its overall long-term debt would not be expected to materially change as a result of this offering.
The press release notes that there is no assurance that the company will proceed with the offering, and if it does, the terms are yet to be determined. It's important to highlight that the notes will not be registered under the securities act and may not be offered or sold in the United States absent registration under the securities act or an applicable exemption from the registration requirements of the securities act.
In the previous period, Virtu Financial Inc. reported long-term debt of $1.5 billion, and it will be interesting to see how this potential offering impacts the company's financial position. Investors and analysts will be closely monitoring any developments in this regard. As a result of these announcements, the company's shares have moved 0.4% on the market, and are now trading at a price of $23.57. Check out the company's full 8-K submission here.
