Bats Global Markets priced its long-awaited initial public offering at a price of US$19.00 per share and increased its size from the initially announced 11,200,000 shares of common stock to 13,300,000.
The firm says the shares $252.7 million of shares in question are being sold by cBats stockholders; certain sellers have also granted the underwriters a 30-day option to purchase up to an additional 1,995,000 shares. Bats will not receive any proceeds from the sale. The offering is expected to close on April 20, subject to customary closing conditions. The shares are expected to begin trading on the Bats BZX Exchange today, under the symbol BATS.