Knight Capital says unnamed investors agreed to buy $400 million of preferred stock that will be converted into about 267 million of its shares, which would help the trading firm stay in business after a software glitch.
August 07, 2012 at 12:00 AM
1 minute read
Knight Capital says investors have agreed to supply it with $400 million in financing, which would help the trading firm stay in business after last week’s disastrous software glitch that shook stock trading and jeopardized its future.
The company said in a regulatory filing on Monday that the unnamed investors agreed to buy $400 million of preferred stock that will be converted into about 267 million of its shares.
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