Newmark Announces Launch of Exchange Offer For Its 7.500% Senior Notes Due 2029

Group 1 - The company issued and sold $600 million aggregate principal amount of Old Notes in January 2024 through a private offering [1] - An exchange offer is being made to exchange up to $475 million aggregate principal amount of outstanding 7.500% Senior Notes due 2029 for registered Exchange Notes [5] - The exchange offer will expire at 5:00 p.m. on July 10, 2024, unless extended, and tenders of Old Notes must be made before this expiration [2] Group 2 - The exchange offer is part of the company's obligations under a registration rights agreement related to the Old Notes and does not represent a new financing transaction [2] - The company's controlling stockholder, Cantor Fitzgerald, L.P., holds $125 million of the Old Notes but will not participate in the exchange offer [6] - After the exchange offer, the company plans to file a shelf registration statement to allow Cantor to resell the Old Notes [6]