04:42 PM EDT, 07/26/2024 (MT Newswires) -- Nasdaq (NDAQ) said late Friday that Argus Seller is selling about 41.6 million shares in a secondary public offering.

Argus is an affiliate of certain funds managed by Thoma Bravo, the stock exchange said.

Nasdaq said it will not receive any proceeds from the secondary offering.

Meanwhile, Nasdaq agreed to buy back 1.2 million shares from Argus on Thursday, given that the shares to be repurchased do not exceed $120 million.

Argus is expected to hold 42.8 million shares of Nasdaq, about a 7.4% stake, after completion of the offering and share repurchase, Nasdaq said.

Argus' stake is subject to an existing contractual lock-up period until May 1, 2025, Nasdaq added.

Shares of Nasdaq were down 1.8% in recent after-hours activity.

Price: 65.76, Change: -1.20, Percent Change: -1.79