Miami International Raises $396.8 Million in NYSE Debut

The exchange operator sold 17.25 million shares at $23 each, marking a significant milestone in its market expansion.

August 18, 2025

Offering overview

Miami International Holdings completed its New York Stock Exchange debut on August 15, raising $396.8 million in gross proceeds. The company priced 17,250,000 shares of common stock at $23 per share, with underwriters exercising their option for an additional 2,250,000 shares in full.

The transaction sets a clear baseline for the company’s public equity and provides fresh capital to support corporate priorities. The mechanics were straightforward and executed on a defined timeline, giving investors clarity on size, price, and immediate proceeds.

Key figures

• Shares sold: 17,250,000 (including the full over-allotment)
• Price per share:$23
• Gross proceeds:$396.8 million (before underwriting discounts, commissions, and expenses)
• Date: August 15, 2025

With the offering completed, the company moves forward with a simplified equity base and a larger public float. The immediate outcome is added financial flexibility; the near-term task is converting that flexibility into execution against operating goals.

Capital structure update

Ahead of the listing, Miami International converted all outstanding Series B preferred stock and nonvoting common stock into 4,525,000 shares of common stock. The conversion occurred immediately before the offering closed and relied on an exchange exemption under the Securities Act. The result is a single class of common shares, which streamlines reporting and removes complexity for new shareholders.

Why it matters

• Cleaner structure: One common class improves comparability and simplifies ownership records.
• Liquidity profile: A larger public float supports trading and price discovery over time.
• Operational focus: With capital raised and conversions complete, management can focus on post-listing execution.

The report was signed by Chairman and Chief Executive Officer Thomas P. Gallagher, marking completion of the steps tied to the market debut. The company now has the resources in place to pursue its next set of objectives, with the offering’s terms establishing a clear starting point for public shareholders.