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CBOE Holdings, Inc. (Nasdaq: CBOE) today launched two concurrent tender offers for 6,648,570 shares of its class A-1 common stock and for 6,648,570 shares of its class A-2 common stock, each at a price of $22.50 per share.
The tender offers are scheduled to expire on Friday, November 12, 2010.
The company said it expects to fund the offers entirely from the net proceeds of its initial public offering.
Last June 18, CBOE Holdings raised $301.4 million in net proceeds by issuing approximately 11.4 million shares of its unrestricted common stock to the public in an initial public offering. In addition, selling shareholders sold an additional 2.1 million shares of unrestricted common stock in the IPO, resulting in a "public" float of approximately 13.5 million shares. The unrestricted common stock is currently listed on the Nasdaq Global Select Market.
Prior to the IPO, in its filings with the Securities and Exchange Commission, CBOE Holdings announced its intention to use net proceeds of the IPO to conduct two concurrent tender offers for its class A-1 and class A-2 common stock. The class A-1 and class A-2 common stock is held by former seat owners of Chicago Board Options Exchange, Incorporated, and members of the settlement class in CME Group Inc. et al v. Chicago Board Options Exchange, Incorporated, et al. The class A-1 and class A-2 common stock is currently subject to transfer restrictions and cannot be sold in any public market.
The tender offers will be made only pursuant to offers to purchase and related letters of transmittal, which will be filed with the Securities and Exchange Commission and are being forwarded to record holders of the class A-1 and class A-2 common stock.
Holders of class A-1 and class A-2 common stock can direct questions with respect to the tender offers to BNY Mellon Shareowner Services at (866) 353-0872.
