BGC Partners enters into controlled equity offering sales agreement with Cantor Fitzgerald
BGC Partners, Inc. (NASDAQ:BGCP) has entered into a Controlled Equity Offering Sales Agreement, dated August 12, 2022, with Cantor Fitzgerald & Co., pursuant to which BGC Partners may offer and sell up to $300,000,000 of shares of the Company’s Class A common stock, par value $0.01 per share under the Company’s shelf Registration Statement on Form S-3, from time to time through Cantor Fitzgerald & Co.
Under the Sales Agreement, Cantor Fitzgerald & Co. will be entitled to compensation equal to 2.0% of the gross proceeds of any of the shares of Class A Common Stock that are sold by it as the Company’s sales agent. Cantor Fitzgerald & Co. is a wholly owned subsidiary of Cantor Fitzgerald, L.P. and an affiliate of the Company.
Sales of shares of Class A Common Stock, if any, pursuant to the Sales Agreement may be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including, without limitation, sales made directly on or through the Nasdaq Global Select Market, the existing market for the Class A Common Stock, or on any other existing trading market for the Class A Common Stock, at market prices prevailing at the time of sale or at prices related to such prevailing market prices.