BGCP Stock Price, News & Analysis

BGC Partners (NASDAQ: BGCP) announced the extension of its Exchange Offer to exchange up to $300 million of its 4.375% Senior Notes due 2025 for registered Exchange Notes. The offer will now close on October 14, 2020, after 99.52% of the Old Notes were tendered by October 7, 2020. The exchange is outlined in a prospectus dated September 9, 2020, and the offer is solely based on this legal document. BGC Partners is a leading financial technology company providing brokerage services across various financial products.

BGC Partners, Inc. (NASDAQ: BGCP) will hold its third quarter 2020 financial results conference call on October 28, 2020, at 11:00 a.m. ET. An advisory press release will be available on the same day by 8:00 a.m. ET, providing access to consolidated financial results. Interested participants can pre-register to expedite access, while others may experience longer wait times. The call will cover BGC's financial performance and results, with a replay available for 365 days post-event.

BGC Partners (NASDAQ: BGCP) has updated its outlook for Q3 2020, citing lower industry volumes in rates, foreign exchange, and credit markets. The company expects revenue and pre-tax Adjusted Earnings to range between the mid-point and low-end of previous forecasts. BGC continues to utilize non-GAAP financial measures, including Adjusted Earnings and Adjusted EBITDA, to reflect its operating performance more accurately. The comprehensive approach is aimed at offering clearer insights into the company’s financial trends amid ongoing economic uncertainties, particularly from the COVID-19 pandemic.

BGC Partners, Inc. (NASDAQ: BGCP) announced an exchange offer for up to $300 million of its 4.375% Senior Notes due 2025. The offer will accept Old Notes issued in July 2020 in exchange for newly registered Exchange Notes and is part of a registration obligation. The exchange ends on October 7, 2020, at 5:00 p.m. New York City time. This move does not signify new financing. The prospectus for the exchange is publicly available and was filed with the SEC as part of BGC's registration statement, effective from September 8, 2020.

BGC Partners (NASDAQ: BGCP) announced the appointment of Shaun Lynn as Vice Chairman, transitioning from his role as President effective October 1, 2020. Lynn will focus on strategy and corporate development while key executives will continue day-to-day operations. CEO Howard Lutnick praised Lynn for his contributions during his tenure, especially through challenges like the COVID-19 pandemic and the recovery post-September 11, 2001. BGC is a global brokerage and financial technology firm providing diverse trading and financial services.

BGC Partners announced the expiration of its cash tender offer for its 5.125% Senior Notes due 2021 on August 11, 2020. A total of $43,968,000, or 14.66%, of the notes were validly tendered. The company is set to pay $1,020.00 for each $1,000 principal amount of notes accepted on August 14, 2020. Notably, notes not tendered remain outstanding. The offer was managed by Goldman Sachs and Cantor Fitzgerald, and this press release does not constitute a formal offer to buy or solicit any notes.

BGC Partners, Inc. (NASDAQ: BGCP) has initiated a cash tender offer for its outstanding 5.125% Senior Notes due 2021, totaling $300 million. This offer allows note holders to tender their notes at a purchase price of $1,020.00 per $1,000 of notes. The offer will expire on August 11, 2020, at 5:00 p.m. New York City time, with a settlement date expected on August 14, 2020. Holders must tender their notes to be eligible for the offer, and BGC reserves the right to amend or terminate the offer conditions. Interested parties can find more details in the Offer Documents.

BGC Partners, Inc. (NASDAQ: BGCP) reported its financial results for Q2 2020, as of June 30, 2020. The results highlight the company's ongoing resilience amidst the COVID-19 pandemic. Revenue and earnings metrics, alongside recent dividend declarations, are accessible on their official website. BGC specializes in a wide array of brokerage and financial technology services, catering to major financial institutions globally. The firm continues to leverage its technology-driven platforms to enhance its client offerings and maintain competitive advantages in the market.

BGC Partners has scheduled a conference call for its second quarter 2020 financial results on July 30, 2020, at 10:00 a.m. ET. The company will issue an advisory press release at 8:00 a.m. ET that day, informing investors about the availability of the consolidated results. The conference call will discuss key financial metrics, and participants are encouraged to pre-register to ensure immediate access. For further information, visit BGC's Investor Relations website.