1. MIAX announces a secondary public offering of 6.75 million shares. 2. No proceeds will go to MIAX; shares sold by selling stockholders. 3. Underwriters have a 30-day option for additional 1.01 million shares. 4. J.P. Morgan and Morgan Stanley are lead managers for the offering. 5. Registration filed with the SEC, offering contingent on effectiveness.
FAQ
Why Neutral?
The offering is secondary and does not raise new capital for MIAX, which typically maintains price stability.
How important is it?
The offering may dilute existing share value, impacting investor sentiment negatively in the short term.
Why Short Term?
The immediate impact involves potential price fluctuation as shares market.
PRINCETON, N.J. and MIAMI, Dec. 9, 2025 /PRNewswire/ -- Miami International Holdings, Inc. ("MIAX" or the "Company") (NYSE:MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced the launch of a proposed secondary public offering (the "Offering") of 6,750,000 shares of its common stock including certain shares to be issued upon the exercise of warrants. The proposed Offering consists entirely of secondary shares to be sold by certain selling stockholders of the Company (the "Selling Stockholders").
The underwriters will have a 30-day option to purchase up to an additional 1,012,500 shares of common stock from the Selling Stockholders. The Company is not selling any shares of common stock in the proposed Offering and will not receive any proceeds from the Offering.
J.P. Morgan, Morgan Stanley and Piper Sandler are acting as lead joint bookrunning managers for the proposed offering. Raymond James, Rosenblatt, William Blair, and Keefe, Bruyette & Woods, A Stifel Company are acting as joint bookrunning managers.
The proposed Offering of MIAX's shares of common stock will be made only by means of a prospectus. Copies of the prospectus relating to the proposed 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 preliminary 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. at 350 North 5th Street, Suite 1000, Minneapolis, MN 55401, Attention: Prospectus Department, by telephone at (800) 747-3924, or by email at prospectus@psc.com.
A registration statement on Form S-1 relating to MIAX's common stock has been filed with the SEC but has not yet become effective. The shares of common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, and shall not constitute an offer, solicitation or sale 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
Miami International Holdings, Inc. (NYSE:MIAX) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes and geographies. MIAX operates nine exchanges across options, futures, equities and international markets including MIAX® Options, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire®, MIAX Pearl Equities™, MIAX Futures™, MIAXdx™, The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE). MIAX also owns Dorman Trading, a full-service Futures Commission Merchant.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are based on management's current expectations and are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in Miami International Holdings, Inc.'s (together with its subsidiaries, the Company) public filings with the Securities and Exchange Commission. In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise.
All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.
MIAX Contacts:
Investors
investor.relations@miaxglobal.com
Media
media@miaxglobal.com
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SOURCE MIAX