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Knight Capital Group Inc Completes $400 Million Equity Financing Agreement


Monday, 6 Aug 2012 09:24am EDT 

Knight Capital Group Inc announced $400 million in equity financing with Wall Street firms including Jefferies Group, Inc., which conceived and structured the investment, as well as Blackstone, GETCO LLC, Stephens, Stifel Financial Corp. and TD Ameritrade Holding Corporation. Under the terms of the transaction, Knight issued 2% preferred shares that may be converted into common stock at $1.50 per share. The owners of the preferred shares may convert all or a portion of the preferred shares into Knight Class A Common Stock. Knight has committed to expand its Board of Directors by adding three new members. Additional details on the financing will be available in a Form 8-K to be filed on August 6,2012. As previously announced, the software that led to the August 1, 2012 trading issue was removed from the Company's systems. The Company continues to review the matter. The advisors to Knight on the transaction are Sandler O'Neill + Partners, L.P. and Wachtell, Lipton, Rosen & Katz. 

Company Quote

11.4
-0.01 -0.09%
4:06pm EDT