BGCP - BGC Partners to enter into corporate conversion transactions

• Brokerage and financial technology company BGC Partners ( NASDAQ: BGCP ) is set to reorganize and simplify its organizational structure through a series of proposed corporate conversion transactions.
• The company has entered into a corporate conversion agreement to change from an Umbrella Partnership/C-Corporation to a Full C-Corporation.
• Also, the company expects to change its name to BGC Group, Inc. from BGC Partners, Inc.
• BGCP also expects to change its ticker symbol to BGC.
• The shareholders will participate in the economics of the BGC businesses through ownership of class A common stock, class B common stock and incentive equity instruments in a single publicly traded corporation.
• The board has approved the agreement.
• Source: Press Release

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