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Subsequent Events | 9 Months Ended
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Sep. 30, 2024
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Third Quarter 2024 Dividend On October 30, 2024, the Company’s Board of Directors declared a quarterly cash dividend of $0.02 per share for the third quarter of 2024, payable on December 4, 2024 to BGC Class A and Class B common stockholders of record as of November 21, 2024. Repayment of BGC Group and BGC Partners 3.750% Senior Notes On October 1, 2024, the Company repaid in full the $255.5 million outstanding aggregate principal amount of BGC Group 3.750% Senior Notes and the $44.5 million outstanding aggregate principal amount of BGC Partners 3.750% Senior Notes, plus accrued interest in each case. Revolving Credit Agreement On October 1, 2024, the Company borrowed $200.0 million under the Revolving Credit Agreement. BGC Credit Agreement On October 1, 2024, Cantor repaid in full to the Company the outstanding principal of $150.0 million borrowed from the Company under the BGC Credit Agreement. Acquisition of Sage Energy Partners On October 1, 2024, the Company completed the acquisition of Sage Energy Partners, an energy and environmental brokerage firm. The Company is in the process of analyzing the purchase price consideration and the impact of the acquisition on its financial statements. The Company concluded that, due to the limited amount of time since the date of this transaction, in accordance with U.S. GAAP it is impracticable to provide certain disclosures required for a business combination at the time of this filing as the Company is still gathering information necessary to provide the disclosures. Acquisition agreement for OTC Global On October 22, 2024, the Company announced that it had executed a definitive agreement to acquire OTC Global. The closing of the acquisition of OTC Global is subject to customary closing conditions, including the receipt of applicable regulatory approvals. Share Repurchase Program Authorization On October 30, 2024, the BGC Group Board and Audit Committee re-approved BGC Group’s share repurchase authorization in an amount up to $400.0 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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