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Miami International Holdings Announces Pricing of Initial Public Offering

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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.

Miami International Holdings (NYSE:MIAX), un operatore dei mercati finanziari guidato dalla tecnologia, ha annunciato il prezzo della sua offerta pubblica iniziale (IPO). La società mette in vendita 15,000,000 azioni ordinarie a $23.00 per azione, ossia $2.00 sopra la fascia di prezzo prevista.

Le negoziazioni inizieranno alla Borsa di New York (New York Stock Exchange) il 14 agosto 2025, con il simbolo "MIAX". I sottoscrittori dispongono di un'opzione di 30 giorni per acquistare fino a 2,250,000 azioni aggiuntive. L'IPO dovrebbe chiudersi intorno al 15 agosto 2025, con J.P. Morgan, Morgan Stanley e Piper Sandler come principali responsabili del collocamento congiunto.

Miami International Holdings (NYSE:MIAX), un operador de mercados financieros impulsado por la tecnología, ha anunciado el precio de su Oferta Pública Inicial (OPI). La compañía ofrece 15,000,000 acciones ordinarias a $23.00 por acción, es decir, $2.00 por encima del rango de precio esperado.

La cotización comenzará en la Bolsa de Nueva York el 14 de agosto de 2025, bajo el símbolo "MIAX". Los colocadores cuentan con una opción de 30 días para comprar hasta 2,250,000 acciones adicionales. Se espera que la OPI se cierre alrededor del 15 de agosto de 2025, con J.P. Morgan, Morgan Stanley y Piper Sandler como gestores principales conjuntos del libro de órdenes.

Miami International Holdings (NYSE:MIAX), 기술 중심의 금융시장 운영업체가 자사의 기업공개(IPO) 가격을 공지했습니다. 회사는 15,000,000주의 보통주를 주당 $23.00에 제공하며, 이는 예상 가격 범위보다 $2.00 높은 수준입니다.

거래는 뉴욕증권거래소(New York Stock Exchange)에서 2025년 8월 14일에 시작되며, 종목 코드는 "MIAX"입니다. 인수단은 30일간 최대 2,250,000주 추가 매입 옵션을 보유하고 있습니다. 이 IPO는 2025년 8월 15일경 마감될 예정이며, J.P. Morgan, Morgan Stanley, Piper Sandler이 주요 공동 주관사로 참여합니다.

Miami International Holdings (NYSE:MIAX), un opérateur des marchés financiers axé sur la technologie, a annoncé le prix de son introduction en bourse (IPO). La société propose 15 000 000 actions ordinaires au prix de 23,00 $ par action, soit 2,00 $ au-dessus de la fourchette de prix attendue.

Les négociations débuteront à la Bourse de New York le 14 août 2025, sous le symbole "MIAX". Les teneurs d'ordres disposent d'une option de 30 jours pour acheter jusqu'à 2 250 000 actions supplémentaires. L'IPO devrait se clôturer autour du 15 août 2025, avec J.P. Morgan, Morgan Stanley et Piper Sandler en tant que gestionnaires conjoints principaux.

Miami International Holdings (NYSE:MIAX), ein technologiegetriebener Betreiber von Finanzmärkten, hat die Preisfestsetzung für seinen Börsengang (IPO) bekanntgegeben. Das Unternehmen bietet 15.000.000 Stammaktien zu $23.00 je Aktie an, also $2.00 über der erwarteten Preisspanne.

Der Handel beginnt an der New York Stock Exchange am 14. August 2025 unter dem Tickersymbol "MIAX". Die Konsortialbanken haben eine 30-tägige Option, bis zu 2.250.000 zusätzliche Aktien zu erwerben. Der IPO soll um den 15. August 2025 abgeschlossen werden, mit J.P. Morgan, Morgan Stanley und Piper Sandler als federführenden gemeinsamen Bookrunning-Managern.

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

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.

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

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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.
Miami International Holdings, Inc.

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