Thoma Bravo Said to Sell Remaining $3.4 Billion Nasdaq Stake (2)

Thoma Bravo sold its remaining stake in Nasdaq Inc. for proceeds of about $3.4 billion, according to people familiar with the matter.

The private equity firm divested around 43 million shares, or about 7.4% of the company, in unregistered block trades on May 7 and May 13, the people said. Thoma Bravo worked with JPMorgan Chase & Co. on the sale, they said, asking not to be identified as the information isn’t public.

A US Securities and Exchange Commission filing on May 9, 2025 shows that an affiliate of Thoma Bravo sold 17.3 million shares for $77.90 per share, and ...