Miami International Holdings Announces Pricing of Initial Public Offering

Rhea-AI Summary

Miami International Holdings (NYSE:MIAX), a technology-driven financial markets operator, has announced the pricing of its Initial Public Offering (IPO). The company is offering 15,000,000 shares of common stock at $23.00 per share, which is $2.00 above the expected price range.

Trading will commence on the New York Stock Exchange on August 14, 2025, under the ticker symbol "MIAX". The underwriters have a 30-day option to purchase up to 2,250,000 additional shares. The IPO is expected to close around August 15, 2025, with J.P. Morgan, Morgan Stanley, and Piper Sandler serving as lead joint bookrunning managers.

Positive

• IPO priced at $23.00 per share, $2.00 above the expected range, indicating strong demand
• Substantial offering size of 15 million shares with potential for 2.25 million additional shares
• Strong underwriting team including major firms like J.P. Morgan and Morgan Stanley

Negative

• Significant dilution for existing shareholders due to large offering size
• Market volatility risks associated with newly public companies

Insights

Financial Markets Analyst

MIH's IPO prices at $23/share, $2 above range, raising $345M with strong market confidence for this exchange operator.

Miami International Holdings (MIH) has successfully priced its initial public offering at $23.00 per share, notably $2.00 above the high end of its expected price range. This stronger-than-anticipated pricing suggests robust investor demand for the company. The offering consists of 15 million shares, which will raise approximately $345 million in gross proceeds for the company. Additionally, underwriters have a 30-day option to purchase up to 2.25 million additional shares, which could potentially increase the total raised to approximately $397 million.

The pricing above range is particularly significant as it indicates strong market confidence in MIH's business model as a technology-driven operator of regulated financial markets across multiple asset classes. The company has secured heavyweight financial institutions as underwriters, including J.P. Morgan, Morgan Stanley, and Piper Sandler as lead joint bookrunning managers, further bolstering the offering's credibility.

MIH's shares are set to begin trading on the New York Stock Exchange under the ticker "MIAX" on August 14, with the offering expected to close around August 15, subject to customary conditions. This successful pricing phase represents an important milestone in the company's evolution from a private entity to a publicly-traded company, potentially providing enhanced capital access for future growth initiatives.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

PRINCETON, N.J. and MIAMI, Aug. 13, 2025 /PRNewswire/ -- Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the pricing of its initial public offering of 15,000,000 shares of its common stock at a price to the public of $23.00 per share, $2.00 above the high end of the expected price range. The shares of common stock are expected to begin trading on the New York Stock Exchange under the ticker symbol "MIAX" on August 14, 2025. The offering is expected to close on or around August 15, 2025, subject to customary closing conditions. MIH also has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, Morgan Stanley and Piper Sandler are acting as lead joint bookrunning managers for the proposed offering. Keefe, Bruyette & Woods, Inc., Raymond James, William Blair and Rosenblatt are acting as joint bookrunning managers.

The offering of MIH's shares of common stock is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the U.S. Securities and Exchange Commission's (the "SEC") website at www.sec.gov. Alternatively, copies of the prospectus may be obtained from: J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com.

A registration statement on Form S-1 relating to MIH's common stock was declared effective by the SEC on August 13, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MIAX
MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX^®), MIAX PEARL, LLC (MIAX Pearl^®), MIAX Emerald, LLC (MIAX Emerald^®), MIAX Sapphire LLC (MIAX Sapphire™), MIAX Futures Exchange, LLC (MIAX Futures™), MIAX Derivatives Exchange (MIAXdx™), Dorman Trading, LLC (Dorman Trading), The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE).

MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX's in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. 

MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and enabled by MIAX's in-house built, proprietary technology. MIAX Futures offers trading in a variety of products including Minneapolis Hard Red Spring Wheat Futures. MIAX Futures is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.

MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a DCM and DCO with the CFTC.

Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.

BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.

TISE provides financial markets and securities services to public and private companies. TISE's Qualified Investor Bond Market (QIBM) is a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions. TISE lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable. TISE is headquartered in Guernsey, Channel Islands.

MIAX's executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MIAX Futures offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. Dorman Trading offices are located in Chicago, IL. BSX offices are located in Hamilton, Bermuda. TISE offices are located in Guernsey, Dublin, the Isle of Man, Jersey and London.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
anybo@miaxglobal.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/miami-international-holdings-announces-pricing-of-initial-public-offering-302529504.html

SOURCE MIAX

FAQ

What is the IPO price for Miami International Holdings (MIAX) stock?

Miami International Holdings priced its IPO at $23.00 per share, which is $2.00 above the expected price range.

When will MIAX stock start trading on the NYSE?

MIAX stock is scheduled to begin trading on the New York Stock Exchange on August 14, 2025.

How many shares is Miami International Holdings (MIAX) offering in its IPO?

The company is offering 15,000,000 shares of common stock, with an option for underwriters to purchase up to 2,250,000 additional shares.

Who are the lead underwriters for the MIAX IPO?

J.P. Morgan, Morgan Stanley, and Piper Sandler are acting as lead joint bookrunning managers for the IPO.

What does Miami International Holdings (MIAX) do?

Miami International Holdings is a technology-driven company that builds and operates regulated financial markets across multiple asset classes.