BGC Partners to convert to Full C-Corp, rename to BGC Group, change ticker to BGC

BGC Group, Inc.

Company enters Corporate Conversion Agreement to simplify structure from Up-C to Full C-Corporation.
BGC Group will have Class A and Class B common stock; ticker expected to change from BGCP to BGC on Nasdaq.
Cantor Fitzgerald agrees via Support Agreement to approve conversion; transaction expected to close by May 15, 2023.
Independent Joint Committee advised by Houlihan Lokey (fairness opinion) and Debevoise & Plimpton; Wachtell Lipton advises Company.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BGC Group, Inc. entered into Corporate Conversion Agreement with BGC Holdings, L.P., BGC Group, Inc., BGC GP, LLC, BGC Partners II, Inc., BGC Partners II, LLC, BGC Holdings Merger Sub, LLC, and, solely for the purposes of certain provisions therein, Cantor Fitzgerald, L.P. (effective 2022-11-15).

Action: entry
Agreement: merger
Counterparty: BGC Holdings, L.P., BGC Group, Inc., BGC GP, LLC, BGC Partners II, Inc., BGC Partners II, LLC, BGC Holdings Merger Sub, LLC, and, solely for the purposes of certain provisions therein, Cantor Fitzgerald, L.P.
Effective: 2022-11-15

Exact text from the filing

On November 15, 2022, BGC Partners, Inc., a Delaware corporation (the “ Company ,” “ BGC Partners ” or “ BGC ”), and BGC Holdings, L.P., a Delaware limited partnership (“ BGC Holdings ”), along with certain other entities set forth below, entered into a Corporate Conversion Agreement (the “ Corporate Conversion Agreement ”)

View on SEC.gov

Browse all material agreements →

BGC Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-286325

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.