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Wednesday, November 14, 2018

Equity Corporate Actions Alert #2018 - 205
(UPDATED) Spin-Off/Distribution Information for BGC Partners, Inc. (BGCP)

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  • Industry Announcement

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On Tuesday, November 13, 2018, BGC Partners, Inc. (BGCP) announced a spin-off of all of the shares of Newmark Group, Inc. held by the company to shareholders of BGCP. The EX distribution when-issued market of BGC Partners, Inc. (BGCPV) and the when-issued market for the additional shares of Newmark Group, Inc. Class A common stock (NMRKV) are expected to begin trading on Nasdaq on Tuesday, November 20, 2018. The details for the spin-off and when-issued markets are as follows:

Company/ Parent: BGC Partners, Inc.
Issue: Class A Common Stock
CUSIP: 05541T101
Symbol: BGCP
Record Date: November 23, 2018
Payment Date: November 30, 2018
EX Date: December 3, 2018
Due Bill Redemption Date: December 4, 2018
Ratio of Spin-Off/ Distribution:
 0.463895 shares of Newmark Group, Inc. Class A Common Stock of for each share of BGC Partners, Inc. Class A Common Stock held. (BGCP)

An EX distribution when issued market will be established for BGC Partners, Inc. Trades in the EX distribution when issued market will not carry due-bills for the spin off/distribution. The details for the EX distribution when-issued market are as follows:

Symbol: BGCPV
CUSIP: 05541T119
First Trade Date: November 20, 2018
Anticipated Suspension Date: December 3, 2018
Settlement Date: December 5, 2018

A when-issued market will be established for the additional shares of the Class A Common Stock of Newmark Group, Inc. (NMRKV). The details for the when issued market are as follows:

Symbol: NMRKV
CUSIP: 65158N102
First Trade Date: November 20, 2018
Regular Way Trading Begins: December 3, 2018
Settlement Date: December 5, 2018

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in BGCPV or NMRKV contact Nasdaq Trading Services at +1 212 231 5100.

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