<SEC-DOCUMENT>0000950170-23-058912.txt : 20231103
<SEC-HEADER>0000950170-23-058912.hdr.sgml : 20231103
<ACCEPTANCE-DATETIME>20231103172259
ACCESSION NUMBER:		0000950170-23-058912
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231101
FILED AS OF DATE:		20231103
DATE AS OF CHANGE:		20231103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			THOMA BRAVO UGP, LLC
		CENTRAL INDEX KEY:			0001813487
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38855
		FILM NUMBER:		231377415

	BUSINESS ADDRESS:	
		STREET 1:		110 N. WACKER DRIVE, 32ND FLOOR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		(312) 254-3300

	MAIL ADDRESS:	
		STREET 1:		110 N. WACKER DRIVE, 32ND FLOOR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Adenza Parent, LP
		CENTRAL INDEX KEY:			0001993263
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38855
		FILM NUMBER:		231377416

	BUSINESS ADDRESS:	
		STREET 1:		ONE MARKET PLAZA, SPEAR TOWER
		STREET 2:		SUITE 2400
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94150
		BUSINESS PHONE:		415-263-3660

	MAIL ADDRESS:	
		STREET 1:		ONE MARKET PLAZA, SPEAR TOWER
		STREET 2:		SUITE 2400
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94150

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NASDAQ, INC.
		CENTRAL INDEX KEY:			0001120193
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
		IRS NUMBER:				521165937
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		151 W. 42ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		1 212 401 8700

	MAIL ADDRESS:	
		STREET 1:		151 W. 42ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NASDAQ OMX GROUP, INC.
		DATE OF NAME CHANGE:	20080227

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NASDAQ STOCK MARKET INC
		DATE OF NAME CHANGE:	20010423
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2023-11-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001120193</issuerCik>
        <issuerName>NASDAQ, INC.</issuerName>
        <issuerTradingSymbol>NDAQ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001993263</rptOwnerCik>
            <rptOwnerName>Adenza Parent, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THOMA BRAVO, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>110 N. WACKER DRIVE, 32ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001813487</rptOwnerCik>
            <rptOwnerName>THOMA BRAVO UGP, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THOMA BRAVO, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>110 N. WACKER DRIVE, 32ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>85608414</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The securities reported herein were acquired pursuant to that certain Agreement and Plan of Merger dated as of June 10, 2023 (the &quot;Merger Agreement&quot;), by and among the Issuer, Argus Merger Sub 1, Inc., Argus Merger Sub 2, LLC, Adenza Holdings, Inc. (&quot;Adenza&quot;) and Adenza Parent, LP (&quot;Adenza Parent&quot;). In connection with the closing of the transaction on November 1, 2023, Adenza Parent acquired 85,608,414 shares of common stock, par value $0.01 per share (the &quot;Common Stock&quot;), of the Issuer and cash consideration in exchange for Adenza Parent's equity in Adenza. This amount represents 85,608,414 shares of Common Stock held directly by Adenza Parent.</footnote>
        <footnote id="F2">Thoma Bravo UGP, LLC (&quot;Thoma Bravo UGP&quot;) is the ultimate general partner of certain investment funds affiliated with Thoma Bravo UGP (the &quot;Thoma Bravo Funds&quot;), and the Thoma Bravo Funds and certain unaffiliated investors are limited partners of Adenza Parent. By virtue of the relationships described in this footnote, Thoma Bravo UGP may be deemed to beneficially own shares of Common Stock directly owned by Adenza Parent. The Thoma Bravo Funds and Thoma Bravo UGP disclaim beneficial ownership of the shares of Common Stock directly owned by Adenza Parent except to the extent of their pecuniary interest therein.</footnote>
    </footnotes>

    <remarks>Holden Spaht currently serves as the representative of Thoma Bravo, L.P. (&quot;Thoma Bravo&quot;), an affiliate of Adenza Parent and Thoma Bravo UGP, on the board of directors of the Issuer, and therefore, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each of Adenza Parent and Thoma Bravo UGP may be deemed a director by deputization of the Issuer.</remarks>

    <ownerSignature>
        <signatureName>Adenza Parent, LP   /s/ Holden Spaht  By: Holden Spaht Title:  Vice President</signatureName>
        <signatureDate>2023-11-03</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Thoma Bravo UGP, LLC    /s/ Holden Spaht   By: Holden Spaht Title: Managing Partner</signatureName>
        <signatureDate>2023-11-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
