8-KOther EventsExhibits & Filings

Intercontinental Exchange, Inc. 8-K Report, Corporate Update (Sep 11, 2020)

Filed September 11, 2020For Securities:ICE

Summary

Intercontinental Exchange, Inc. (ICE) filed an 8-K on September 10, 2020, to report an underwriting agreement entered into on September 9, 2020. This agreement pertains to the sale of 9,180,568 shares of ICE's common stock by Ellie Mae Parent, LP, an entity controlled by Thoma Bravo, to Goldman Sachs & Co. LLC as the underwriter. The transaction involves the sale of a significant block of shares at a price of $99.6919 per share. While ICE is not directly selling these shares, this filing indicates a substantial ownership change by a major shareholder, which could impact market perception and potentially affect the stock's trading dynamics. Investors should monitor any further announcements regarding this share disposition and its implications for the company's capital structure and shareholder base.

Key Highlights

  • 1ICE reported an Underwriting Agreement on September 10, 2020, related to a stock sale.
  • 2The agreement was entered into on September 9, 2020.
  • 3Ellie Mae Parent, LP (controlled by Thoma Bravo) is the selling stockholder.
  • 4Goldman Sachs & Co. LLC is acting as the underwriter for the sale.
  • 5A total of 9,180,568 shares of ICE common stock are being sold.
  • 6The sale price per share is $99.6919.
  • 7This filing indicates a large block sale by a significant shareholder, not a primary offering by ICE itself.

Frequently Asked Questions

No, ICE is not selling its own stock directly. The filing indicates that Ellie Mae Parent, LP, an entity controlled by Thoma Bravo, is the selling stockholder.

This agreement signifies a large block of ICE's common stock being sold by a major shareholder. While ICE is not raising capital from this sale, it could lead to a change in the company's investor base and potentially affect stock trading. Investors should consider how this disposition might impact supply and demand dynamics for ICE's shares.

Goldman Sachs & Co. LLC is acting as the underwriter, purchasing the shares from the selling stockholder. The ultimate buyers would be the investors who purchase these shares from the underwriter in the market.

The total value of the shares being sold is approximately $915.2 million (9,180,568 shares * $99.6919 per share).