WR Hambrecht + Co to Conduct OpenFollowOn(SM) Auction for Interactive Brokers Group
As indicated by its registration statement filed with the SEC on April 24, 2008, Interactive Brokers can choose to sell up to 50,000,000 shares of Class A common stock at or above $33.50 per share. No bids below $33.50 per share will be accepted in the auction. Interactive Brokers has committed in writing to WR Hambrecht + Co that it will promptly deregister any shares which remain unsold after the auction and will not re-register them until at least April 15, 2009.
Further, Interactive Brokers has committed in writing that it will not register another public offering of shares until at least April 15, 2009, regardless of the number of shares sold in this offering. W.R. Hambrecht + Co., LLC, Fox-Pitt, Kelton Cochran Caronia Waller (USA) LLC, and Sandler O'Neill + Partners, L.P.
The public offering will be made only by means of a prospectus which may be obtained by going to WR Hambrecht + Co's Web site, www.wrhambrecht.com, by calling 800-673-6476, by writing to WR Hambrecht + Co, P.O. Box 677, Berwyn, PA 19312 or by going to www.interactivebrokers.com IBDA. OpenFollowOn SM Dutch auction process Pre-auction bids can be submitted at any point up to approximately an hour prior to the actual live OpenFollowOn SM auction.
In the auction and pre-auction periods, bidders may only bid at or above the minimum offering price of $33.50 per share. After the close of the markets on May 7, 2008, an approximately 30 minute live auction will be used to determine a clearing price.
If a clearing price is achieved, shares will be allocated on a price and time priority basis, unless the Company decides to sell shares at a price below the clearing price (but at least equal to the minimum bid price). In this case, shares would be allocated on a pro-rata basis. If a clearing price is not achieved, all shares bid for will be sold at the minimum bid price.
About WR Hambrecht + Co: WR Hambrecht + Co ( www.wrhambrecht.com ) is a disruptive financial services firm using technology and auction processes to provide open and fair access to the capital markets for issuers and investors. WR Hambrecht + Co is headquartered in San Francisco with offices in Boston, New York, and Philadelphia. About Interactive Brokers Group, Inc.: Interactive Brokers Group, Inc.,
The Company provides professional traders and investors with direct access to options, futures, stocks, forex and bonds from a single IB Universal Account SM. Interactive Brokers Group, Inc. Delaware corporation which has been formed to hold shares in and become the managing member of IBG LLC, the current holding company for its business. A registration statement relating to shares of Interactive Brokers Class A common stock described above has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
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