Virtu Financial, Inc. Announces Investor Meetings for Potential Opportunistic Offering of Senior Secured First Lien Notes
30 May 2024 - 9:00PM
Virtu Financial Inc. (Nasdaq: VIRT) (the “Company”) announced today
that it intends to hold one or more meetings with potential
investors with respect to a potential opportunistic offering of
senior secured first lien notes (the “notes”) in a transaction
exempt from the registration requirements under the Securities Act
of 1933 (the “Offering”), the proceeds of which are expected to be
used to repay a portion of the outstanding borrowings under its
senior secured first lien term loan facility due 2029. As a result,
the Company’s overall long-term debt would not be expected to
materially change. There can be no assurance that the Company will
proceed with the Offering at all or, if the Company elects to
proceed with the Offering, the terms thereof.
This press release is for informational purposes
only and is neither an offer to sell nor a solicitation of an offer
to buy any security. 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.
Cautionary Note Regarding
Forward-Looking Statements
This press release may contain “forward-looking
statements” made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Statements
regarding Virtu Financial, Inc.’s (“Virtu’s”, the “Company’s” or
“our”) business that are not historical facts are forward-looking
statements. Forward-looking statements should not be read as a
guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by which,
such performance or results will be achieved. The Company assumes
no obligation to update forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors
affecting forward-looking information, and if the Company does
update one or more forward-looking statements, no inference should
be drawn that the Company will make additional updates with respect
thereto or with respect to other forward-looking statements.
Forward-looking statements are based on information available at
the time and/or management’s good faith belief with respect to
future events, and is subject to risks and uncertainties, some or
all of which are not predictable or within Virtu’s control, that
could cause actual performance or results to differ materially from
those expressed in the statements. Those risks and uncertainties
include, without limitation: risks relating to fluctuations in
trading volume and volatilities in the markets in which we operate;
the ability of our trading counterparties, clients, and various
clearing houses to perform their obligations to us; the performance
and reliability of our customized trading platform; the risk of
material trading losses from our market making activities; swings
in valuations in securities or other instruments in which we hold
positions; increasing competition and consolidation in our
industry; the risk that cash flow from our operations and other
available sources of liquidity will not be sufficient to fund our
various ongoing obligations, including operating expenses,
short-term funding requirements, margin requirements, capital
expenditures, debt service and dividend payments; potential
consequences of recent SEC proposals focused on equity markets
which may, if adopted, result in reduced overall and off-exchange
trading volumes and market making opportunities, impose additional
or heightened regulatory obligations on market makers and other
market participants, and generally increase the implicit and
explicit cost as well as the complexity of the U.S. equities
eco-system for all participants; regulatory and legal uncertainties
and potential changes associated with our industry, particularly in
light of increased attention from media, regulators and lawmakers
to market structure and related issues including but not limited to
the retail trading environment, wholesale market making and off
exchange trading more generally and payment for order flow
arrangements; potential adverse results from legal or regulatory
proceedings; our ability to remain technologically competitive and
to ensure that the technology we utilize is not vulnerable to
security risks, hacking and cyber-attacks; risks associated with
third party software and technology infrastructure. For a
discussion of the risks and uncertainties which could cause actual
results to differ from those contained in forward-looking
statements, see Virtu’s Securities and Exchange Commission filings,
including but not limited to Virtu’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K
filed with the SEC.
CONTACT
Investor &
Media RelationsAndrew Smith
investor_relations@virtu.commedia@virtu.com
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