<SEC-DOCUMENT>0001193125-17-368918.txt : 20171214
<SEC-HEADER>0001193125-17-368918.hdr.sgml : 20171214
<ACCEPTANCE-DATETIME>20171214095002
ACCESSION NUMBER:		0001193125-17-368918
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20171214
DATE AS OF CHANGE:		20171214

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEWMARK GROUP, INC.
		CENTRAL INDEX KEY:			0001690680
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		IRS NUMBER:				814467492
		STATE OF INCORPORATION:			NY

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-221078
		FILM NUMBER:		171255301

	BUSINESS ADDRESS:	
		STREET 1:		499 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128294775

	MAIL ADDRESS:	
		STREET 1:		499 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NRE DELAWARE, INC.
		DATE OF NAME CHANGE:	20161122

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEWMARK GROUP, INC.
		CENTRAL INDEX KEY:			0001690680
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		IRS NUMBER:				814467492
		STATE OF INCORPORATION:			NY

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		499 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128294775

	MAIL ADDRESS:	
		STREET 1:		499 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NRE DELAWARE, INC.
		DATE OF NAME CHANGE:	20161122
</SEC-HEADER>
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<TYPE>FWP
<SEQUENCE>1
<FILENAME>d492851dfwp.htm
<DESCRIPTION>FWP
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Issuer Free Writing Prospectus dated December&nbsp;14, 2017 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Relating to Preliminary Prospectus dated December&nbsp;14, 2017 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant to Rule 433 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-221078</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NEWMARK GROUP, INC. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This free writing
prospectus relates to the shares of Class&nbsp;A common stock, par value $0.01 per share, of Newmark Group, Inc. (the &#147;Company&#148; or &#147;Newmark&#148;) described below and should be read together with the Preliminary Prospectus, subject to
completion, dated December&nbsp;14, 2017 (the &#147;Preliminary Prospectus&#148;), included in Amendment No.&nbsp;7 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (File
<FONT STYLE="white-space:nowrap">No.&nbsp;333-221078)</FONT> of the Company, relating to the initial public offering of shares of Class&nbsp;A common stock of the Company. Terms used but not otherwise defined in this free writing prospectus shall
have the meanings ascribed to them in the Preliminary Prospectus. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="65%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Initial public offering price:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The initial public offering price of the Class&nbsp;A common stock is currently estimated to be between $14.00 and $15.00 per share. The price range has been reduced from the previously-announced range between $19.00 and $22.00 per
share.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Class&nbsp;A common stock to be sold in the offering:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">20,000,000 shares (excluding the underwriters&#146; option to purchase additional shares). The offering has been reduced from the previously-announced size of 30,000,000 shares (excluding the underwriters&#146; option to purchase
additional shares).</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Shares of all classes of Newmark common stock to be outstanding immediately following the offering<SUP STYLE="font-size:85%; vertical-align:top">1</SUP>:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Class&nbsp;A common stock</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">135,593,786 shares</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Class&nbsp;B common stock</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">15,840,049 shares</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Option to purchase additional shares:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company has granted the underwriters a <FONT STYLE="white-space:nowrap">30-day</FONT> option to purchase up to an additional 3,000,000 shares of Class&nbsp;A common stock at the initial public offering price, less underwriting
discounts and commissions.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Use of proceeds:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company estimates that its net proceeds from the offering will be approximately $268.1&nbsp;million ($309.2&nbsp;million if the
underwriters exercise their option to purchase additional shares of Class&nbsp;A common stock in full), assuming a public offering price of $14.50 per share (which is the midpoint of the offering price range set forth above), after deducting
underwriting discounts and commissions in connection with the offering and estimated offering expenses payable by the Company.</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">The Company currently intends to contribute all of the net proceeds of the offering (including any net proceeds received in connection with the
underwriters&#146; option to purchase additional shares of Class&nbsp;A common stock) to Newmark OpCo in exchange for a number of units representing Newmark OpCo limited partnership interests equal to the number of shares issued by the Company in
the offering. Newmark OpCo intends to use all of such net proceeds to partially repay intercompany indebtedness owed by Newmark OpCo to the Company in respect of the Term Loan (which intercompany</P></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The number of shares of Class A common stock and Class B common stock outstanding immediately following the offering does not give effect to the underwriters&#146; option to purchase additional shares. If the
underwriters exercise their right to purchase all of the additional shares available pursuant to their option, 138,593,786 shares of Class A common stock will be outstanding immediately following the offering and the exercise of such option.
</TD></TR></TABLE>

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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">indebtedness was originally issued by BGC U.S. and will be assumed by Newmark OpCo in connection with the separation). The Company currently intends to use all of such repayment from Newmark OpCo to partially repay the Term Loan.
The Term Loan has an outstanding principal amount of $575.0&nbsp;million, plus accrued but unpaid interest thereon, with an interest rate calculated based on <FONT STYLE="white-space:nowrap">one-month</FONT> LIBOR plus 2.25%, subject to adjustment,
which was approximately 3.5% per annum as of September&nbsp;30, 2017. The Term Loan will mature on September&nbsp;8, 2019. The terms of the Term Loan require that the net proceeds of the offering be used to repay the Term Loan until the Term Loan is
repaid in full. Following the offering, the Company estimates that the Term Loan will have an outstanding principal amount of approximately $307.0&nbsp;million, plus accrued but unpaid interest thereon ($265.8&nbsp;million, plus accrued but unpaid
interest thereon, if the underwriters exercise their option to purchase additional shares of Class&nbsp;A common stock in full).</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Capitalization:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Please refer to page 71 of the Preliminary Prospectus.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Unaudited Pro Forma Condensed Combined Financial Data:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Please refer to pages 76-85 of the Preliminary Prospectus.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
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<TD VALIGN="top">Principal Stockholders:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Please refer to pages 171-175 of the Preliminary Prospectus.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To review the Preliminary Prospectus, please click the following link on the Securities and Exchange Commission (&#147;SEC&#148;) website at <A HREF="http://www.sec.gov/Archives/edgar/data/1690680/000119312517368896/d298983ds1a.htm">http://www.sec.gov/Archives/edgar/data/1690680/000119312517368896/d298983ds1a.htm
</A>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed a Registration Statement (including the Preliminary Prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the Preliminary Prospectus in that Registration Statement and other documents the Company has filed with the SEC for more complete information about the Company and the offering. You may get
these documents for free by visiting EDGAR on the SEC&#146;s website at www.sec.gov. Copies of the Preliminary Prospectus relating to the offering may be obtained from Goldman Sachs&nbsp;&amp; Co. LLC, at: Goldman Sachs&nbsp;&amp; Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282; telephone: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-866-471-2526,</FONT></FONT></FONT> facsimile:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">212-902-9316</FONT></FONT> or by emailing <FONT STYLE="white-space:nowrap">prospectusgroup-ny@ny.email.gs.com;</FONT> BofA Merrill Lynch, <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">NC1-004-03-43,</FONT></FONT></FONT> 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com; Citigroup at:
Citigroup c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">800-831-9146;</FONT></FONT> or Cantor Fitzgerald&nbsp;&amp; Co., Attn:
Prospectus Group, 499 Park Avenue, New York, NY 10022, or by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-212-915-1067</FONT></FONT></FONT> or by email at prospectus@cantor.com.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>

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