I purchased NITE a few weeks ago, any idea what the following will do to the price of the stock? Thanks, Debra
Knight files to offer 9 mln Class A shrs
February 1, 1999 07:55 PM
WASHINGTON, Feb 1 (Reuters) - Nasdaq's largest market maker Knight/Trimark Group Inc. filed Monday with the Securities and Exhange Commission a registration to sell up to nine million Class A common shares.
Of the total amount, 2,419,137 Class A will be offered by the company and 6,580,863 Class A common will be sold by selling shareholders.
The offering will be made through BancBoston Robertson Stephens, Merrill Lynch & Co., PaineWebber Inc., ABN AMRO Rothschild, a division of ABN AMRO Inc. and Southwest Securities.
Certain selling stockholders have granted the underwriters a 30-day overallotment option to purchase up to 1.35 million additional Class A common shares.
Net proceeds will be used to support the growth of the firm's market making business.
After the offering outstanding Class A will total 52,381,321 shares.
((Washington newsroom, 202 898-8399 Fax: 202 347-3853,
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