Virtu Financial adds $300M Term B-2 loan

Virtu Financial, Inc. entered into Amendment No. 3 to its existing credit agreement, adding $300 million of incremental senior secured first lien Term B-2 loans.

Rhea-AI Filing Summary

Virtu Financial, Inc. entered into Amendment No. 3 to its existing credit agreement, adding $300 million of incremental senior secured first lien Term B-2 loans. This brings the total Term B-2 loan balance to $1,545 million, with proceeds designated for general corporate purposes.

The Term B-2 loans were issued at par and bear interest, at the company’s election, at a floating rate based on either a prime- and SOFR-based formula plus 1.50%, or a SOFR-based formula plus 2.50%. The Term B-2 loans mature on June 21, 2031 and amortize at 1.0% per year of the total Term B-2 balance as of the amendment date, with additional contingent principal payments tied to excess cash flow and other events.

Insights

Credit and capital structure analyst

Virtu adds $300M of term debt, extending its B-2 loan structure to 2031.

Virtu Financial, Inc. amended its credit agreement to issue $300 million of incremental senior secured first lien Term B-2 loans, increasing the total Term B-2 balance to $1,545 million. The proceeds are earmarked for general corporate purposes, which can include a wide range of potential uses as determined by the company.

The new and existing Term B-2 loans carry floating interest based on either a prime- and SOFR-linked formula plus 1.50%, or a SOFR-linked formula plus 2.50%. These loans mature on June 21, 2031 and feature annual amortization of 1.0% of the total Term B-2 balance as of the amendment date, along with additional contingent principal payments tied to excess cash flow and specified triggering events.

This structure locks in long-dated secured funding while keeping required annual amortization relatively low, with the actual pace of debt reduction depending on future excess cash flow and any applicable triggers described in the amended agreement.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Virtu Financial (VIRT) disclose in this 8-K?

Virtu Financial, Inc. disclosed that it entered into Amendment No. 3 to its existing credit agreement, adding new senior secured first lien Term B-2 loans and updating related terms.

How much incremental debt did Virtu Financial add under the Term B-2 loans?

Virtu Financial added $300 million of incremental senior secured first lien Term B-2 loans, bringing the total Term B-2 loan balance to $1,545 million.

What will Virtu Financial use the $300 million Incremental Term B-2 Loans for?

The $300 million of Incremental Term B-2 Loans will be used for general corporate purposes, as stated in the amendment description.

When do Virtu Financial’s Term B-2 loans mature and how do they amortize?

The Term B-2 loans mature on June 21, 2031 and amortize in annual installments equal to 1.0% of the total Term B-2 loan balance as of the amendment effective date, with additional contingent principal payments based on excess cash flow and certain other events.

What interest rates apply to Virtu Financial’s Term B-2 loans?

The Term B-2 loans bear interest, at Virtu’s election, at either a prime- and SOFR-based benchmark plus 1.50% or a SOFR-based benchmark plus 2.50%, using the formulas specified in the amendment.

Which entities are party to Virtu Financial’s Amended Credit Agreement?

The Amended Credit Agreement is among Virtu Financial LLC (Holdings), VFH Parent LLC (the Borrower), certain subsidiaries of the Borrower, the lenders party thereto, and JPMorgan Chase Bank, N.A. as administrative agent and collateral agent.

Did Virtu Financial issue a press release about the credit agreement amendment?

Yes. Virtu Financial issued a press release on September 23, 2025 announcing the amendment; it is attached as Exhibit 99.1 and incorporated by reference.

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

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Accepted by SEC EDGAR 09/23/2025 - 09:04 AM Learn about SEC filing dates

0001592386FALSE0001592386false00015923862025-09-232025-09-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): September 23, 2025

VIRTU FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction  of incorporation) 001-37352 (Commission File No.) 32-0420206 (IRS Employer  Identification No.)

1633 Broadway

New York, NY 10019

(Address of principal executive offices)

(212) 418-0100

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading Symbol(s)

Name of each exchange on which registered:

Class A common stock, par value $0.00001 per share

VIRT

New York Stock Exchange

ITEM 1.01    ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Amendment to Credit Agreement

On September 23, 2025 (the “Amendment Effective Date”), Virtu Financial LLC (“Holdings”), VFH Parent LLC (the “Borrower”) and certain subsidiaries of the Borrower entered into Amendment No. 3 (“Amendment No. 3”), which amended the Credit Agreement, dated as of January 13, 2022 (as amended by Amendment No. 1, dated as of June 21, 2024, and Amendment No. 2, dated as of February 19, 2024, the “Existing Credit Agreement”, and as amended by Amendment No. 3, the “Amended Credit Agreement”), by and among Holdings, the Borrower, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.

Amendment No. 3 amends the Existing Credit Agreement to effect the issuance of incremental senior secured first lien term B-2 loans in the amount of $300 million (the “Incremental Term B-2 Loans”), the proceeds of which will be used for general corporate purposes, for a total term B-2 loan balance of $1,545 million (collectively, the “Term B-2 Loans”).

The Incremental Term B-2 Loans were issued at par and together with the other Term B-2 Loans, bear interest, at our election, at either (i) the greatest of (a) the prime rate in effect, (b) the greater of (1) the federal funds effective rate and (2) the overnight bank funding rate, in each case plus 0.50%, and (c) term SOFR for a borrowing with an interest period of one month plus 1.0% and (d) 1.0%, plus, in each case, 1.50%, or (ii) the greater of (x) term SOFR for the interest period in effect and (y) 0%, plus, in each case, 2.50%.

The Incremental Term B-2 Loans, along with the other Term B-2 Loans, will mature on June 21, 2031 and amortize in annual installments equal to 1.0% of the total Term B-2 Loan balance as of Amendment Effective Date. The Term B-2 Loans are also subject to contingent principal payments based on excess cash flow and certain other triggering events.

The above description of the terms of Amendment No. 3 is qualified in its entirety by reference to the full text of Amendment No. 3, which will be filed with the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2025.

The Company issued a press release announcing the foregoing on September 23, 2025. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

ITEM 2.03    CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information set forth under Item 1.01 above is hereby incorporated by reference in its entirety in response to this Item.

ITEM 9.01    FINANCIAL STATEMENTS AND EXHIBITS

(d)Exhibits

Exhibit No.						Description
99.1						Press Release dated September 23, 2025
104						The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

2

EXHIBIT INDEX

Exhibit No.						Description
99.1						Press Release dated September 23, 2025
104						The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

			VIRTU FINANCIAL, INC.
			By:			/s/ JUSTIN WALDIE
						Name:			Justin Waldie
						Title:			Senior Vice President, Secretary and General Counsel

Dated: September 23, 2025

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