# EDGAR Filing Document

**Accession Number:** 0000913760
**File Stem:** 0000913760-25-000114
**Filing Date:** 2025-6
**Character Count:** 48421
**Document Hash:** 64e41a482e6297f51bab5348e1e42cd3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000913760-25-000114.hdr.sgml**: 20250623

**ACCESSION NUMBER**: 0000913760-25-000114

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 24

**CONFORMED PERIOD OF REPORT**: 20250623

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250623

**DATE AS OF CHANGE**: 20250623

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** StoneX Group Inc.
- **CENTRAL INDEX KEY:** 0000913760
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 592921318
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36045
- **FILM NUMBER:** 251063123

**BUSINESS ADDRESS:**
- **STREET 1:** 230 PARK AVE
- **STREET 2:** 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169
- **BUSINESS PHONE:** 212-485-3500

**MAIL ADDRESS:**
- **STREET 1:** 230 PARK AVE
- **STREET 2:** 10TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10169

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTL FCSTONE INC.
- **DATE OF NAME CHANGE:** 20110302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTERNATIONAL ASSETS HOLDING CORP
- **DATE OF NAME CHANGE:** 19931020

?xml version='1.0' encoding='ASCII'? intl-20250623

    

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**_______________**

**Form 8-K** 

**_______________**

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): June 23, 2025**

**_______________**

**StoneX Group Inc.** 

**(Exact name of registrant as specified in its charter)** 

**_______________**

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| | | |
|:---|:---|:---|
| **Delaware** | **000-23554** | **59-2921318** |
| **(State of Incorporation)** | **(Commission File Number)** | **(IRS Employer ID No.)** |

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**230 Park Ave, 10th Floor** 

**New York, NY 10169** 

**(Address of principal executive offices, including Zip Code)** 

**(212**) **485-3500** 

**(Registrant's telephone number, including area code)** 

**_______________**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to rule 14d-2(b) under the Exchange Act 17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, $0.01 par value | SNEX | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

    

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**Item 7.01. Regulation FD Disclosure**

On June 23, 2025, StoneX Group Inc. (the "Company") announced the commencement of an offering by its wholly-owned subsidiary, StoneX Escrow Issuer LLC (the "Offering") pursuant to exemptions from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), for the issuance of $625 million in aggregate principal amount of senior secured notes due 2032 (the "Notes"). StoneX Escrow Issuer LLC was created solely to issue the Notes in connection with the Company's proposed acquisition of R.J. O'Brien (the "Merger"). Upon the closing of the Merger, StoneX Escrow Issuer LLC will merge with and into the Company, and the Company will assume the obligations under the Notes.

In connection with the Offering, the Company disclosed certain information to prospective investors in a preliminary offering memorandum dated June 23, 2025. The preliminary offering memorandum disclosed certain information that supplements or updates certain prior disclosures of the Company.

Pursuant to Regulation FD, the Company is furnishing herewith such information, in the general form presented in the preliminary offering memorandum, as Exhibit 99.1 to this Form 8-K.

**Item 8.01. Other Events**

On June 23, 2025, the Company issued a press release pursuant to Rule 135c under the Securities Act regarding commencement of the Offering. A copy of the press release is attached hereto as Exhibit 99.2.

The offer and sale of the Notes and related guarantees have not been, and will not be, registered under the Securities Act, or the securities laws of any other jurisdiction, and the Notes and related guarantees may not be offered or sold in the United States absent registration or applicable exemptions from registration requirements.

**Cautionary Note Regarding Forward-Looking Statements**

Certain statements herein that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in the Company's public filings with the Securities and Exchange Commission. Forward-looking statements are based on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, the closing of the offering and expected use of proceeds. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Therefore, we caution you against relying on any of these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include risks and other factors described in the Company's periodic reports filed with the Securities and Exchange Commission. In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

**Item 9.01. Financial Statements and Exhibits** 

(d) Exhibits

**Exhibit No. Description**

99.1 &nbsp;&nbsp;&nbsp;&nbsp;<u>[Excerpts from preliminary offering memorandum of StoneX Group Inc., dated June 23, 2025](stonex-launch8xkxex991ex.htm)</u>.

99.2 &nbsp;&nbsp;&nbsp;&nbsp;<u>[Press release dated June 23, 2025.](stonex-launchpressrelease.htm)</u>

104&nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document).

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**Signature**

Pursuant to the Requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|<br>**June 23, 2025** | **StoneX Group Inc.**<br>(Registrant)<br>**/s/ WILLIAM J. DUNAWAY** |
| (Date) | William J. Dunaway |
| | Chief Financial Officer |

---

## Exhibit 99.1

![](stonex-launch8xkxex991ex001.jpg)

Exhibit 99.1 SUMMARY HISTORICAL CONSOLIDATED AND PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION AND OTHER DATA OF STONEX The selected historical consolidated financial information as of September 30, 2024, 2023 and 2022 and for the fiscal years ended September 30, 2024, 2023 and 2022 have been derived from the Company's audited consolidated financial statements incorporated by reference herein. The selected historical consolidated financial information as of March 31, 2025, and 2024 and for the six months ended March 31, 2025 and 2024, have been derived from the Company's unaudited consolidated financial statements incorporated by reference herein, and include, in the opinion of management, all adjustments, consisting of normal, recurring adjustments, necessary for a fair presentation of such information. The financial data presented for interim periods is not necessarily indicative of the results for the full year. The financial information as of and for the twelve months ended March 31, 2025, have been calculated by subtracting the data as of and for the six months ended March 31, 2024, from the data as of and for the fiscal year ended September 30, 2024, and adding the result to the applicable financial information as of and for the six months ended March 31, 2025. The selected historical financial information set forth below should be read in conjunction with: (i) the sections entitled "Use of Proceeds" and "Capitalization," each of which are contained elsewhere in this offering memorandum, (ii) our audited financial statements and the notes thereto for the respective periods, each of which are filed with the Commission and incorporated by reference in this offering memorandum and (iii) our unaudited condensed consolidated financial statements and the notes thereto for the respective periods, each of which are filed with the Commission and incorporated by reference in this offering memorandum. The historical results presented below are not necessarily indicative of financial results to be achieved in future periods. Future periods could differ materially from historical levels due to many factors, including, but not limited to, those discussed and referred to in "Risk Factors" and the risk factors incorporated by reference herein. The unaudited pro forma condensed combined financial information of StoneX included in this offering memorandum reflects adjustments to the historical financial statements of StoneX to give effect to the Acquisition of RJO with acquisition accounting applied to RJO as the accounting acquiree and the related anticipated issuance of the Notes and use of net proceeds therefrom as described above. StoneX's most recently completed fiscal year ended on September 30, 2024 and RJO's most recently completed fiscal year ended on December 31, 2024. The unaudited pro forma combined income statement for the twelve months ended March 31, 2025 was derived based on the historical audited consolidated income statement of StoneX for the year ended September 30, 2024; plus the historical unaudited condensed consolidated income statement of StoneX for six months ended March 31, 2025; less the historical unaudited condensed consolidated income statement of StoneX for six months ended March 31, 2024; plus the historical audited consolidated income statement of RJO for the year ended December 31, 2024; plus the historical unaudited condensed consolidated income statement of RJO for three months ended March 31, 2025; less the historical unaudited condensed consolidated income statement of RJO for the three months ended March 31, 2024 (which income statement of RJO for the three months ended March 31, 2024 is not included in this offering memorandum). The unaudited pro forma combined income statement for the fiscal year ended September 30, 2024 combines StoneX's fiscal year ended September 30, 2024 with RJO's fiscal year ended December 31, 2024. The unaudited pro forma combined balance sheet as of March 31, 2025 combines StoneX's unaudited March 31, 2025 balance sheet with RJO's unaudited March 31, 2025 statement of financial condition. See "Unaudited Pro Forma Condensed Combined Financial Information of StoneX and RJO." The unaudited pro forma condensed combined financial information included herein has been presented for informational purposes only and is not necessarily indicative of what the combined company's financial position or results of operations would have been had the transactions been completed as of the dates indicated. In addition, the

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unaudited pro forma condensed combined financial information does not purport to project the future financial position or operating results of the combined company. The unaudited pro forma condensed combined financial information contains estimated adjustments, based upon available information and certain assumptions that the Company believes are reasonable under the circumstances. The assumptions underlying the pro forma adjustments are described in greater detail in the accompanying notes to the unaudited pro forma condensed combined financial information. In many cases, these assumptions are based upon preliminary information and estimates. Differences between these preliminary estimates and the final acquisition accounting will occur, and these differences could have a material impact on the accompanying unaudited pro forma condensed combined financial information and the combined company's future results of operations and financial position. The unaudited pro forma combined financial information should be read in conjunction with the consolidated financial statements and notes thereto included and incorporated by reference in this offering memorandum, in addition to the sections "Summary—The Transactions" and "Capitalization."

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![](stonex-launch8xkxex991ex003.jpg)

Condensed Consolidated Income Statements: Six Months Ended March 31, Fiscal Year Ended September 30, Twelve Months Ended March 31, Pro Forma (Unaudited) 2025 2024 2024 2023 2022 2025 Fiscal Year Ended September 30, 2024 Twelve Months Ended March 31, 2025 ($ in millions) Revenues: Sales of physical commodities ......... $63,043.7 $40,142.8 $96,586.2 $58,131.2 $64,052.6 $119,487.1 $96,586.2 $119,487.1 Principal gains, net ... 609.4 575.6 1,189.6 1,079.9 1,145.2 1,223.4 1,195.6 1,247.1 Commission and clearing fees ......... 313.6 265.9 548.0 498.4 507.9 595.7 1,134.1 1,196.4 Consulting, management, and account fees ......... 92.1 78.7 167.2 159.0 111.3 180.6 173.6 187.1 Interest income ......... 767.2 616.1 1,396.8 987.6 219.0 1,547.9 1,681.5 1,821.0 Total revenues ......... 64,826.0 41,679.1 99,887.8 60,856.1 66,036.0 123,034.7 100,771.0 123,938.7 Cost of sales of physical commodities ......... 62,925.7 40,076.7 96,451.6 57,942.0 63,928.6 119,300.6 96,451.6 119,300.6 Operating revenues 1,900.3 1,602.4 3,436.2 2,914.1 2,107.4 3,734.1 4,319.4 4,638.1 Transaction-based clearing expenses . 178.3 152.8 319.3 271.8 291.2 344.8 502.2 524.1 Introducing broker commissions ........ 89.8 81.1 166.2 161.6 160.1 174.9 336.0 358.1 Interest expense ........ 622.8 495.2 1,115.7 802.2 135.5 1,243.3 1,234.4 1,356.1 Interest expense on corporate funding . 30.0 29.4 67.8 57.5 44.7 68.4 133.9 132.5 Net operating revenues .............. 979.4 843.9 1,767.2 1,621.0 1,475.9 1,902.7 2,112.9 2,267.3 Compensation and other expenses: Compensation and benefits ................. 519.6 452.5 942.4 868.6 794.8 1,009.5 1,133.7 1,202.3 Trading systems and market information .......... 39.5 38.1 79.1 74.0 66.2 80.5 94.1 96.2 Professional fees ....... 35.5 35.0 69.7 57.0 54.3 70.2 75.7 76.7 Non-trading technology and support ................. 40.6 34.9 73.4 61.6 52.4 79.1 80.2 86.2 Occupancy and equipment rental .. 26.1 21.3 49.0 40.4 36.1 53.8 56.6 61.4 Selling and marketing ............. 25.4 27.3 52.6 54.0 55.3 50.7 52.6 51.0 Travel and business development ......... 15.5 14.2 28.4 24.8 16.9 29.7 33.7 35.1 Communications ....... 4.2 4.5 8.5 9.1 8.3 8.2 13.6 13.5 Depreciation and amortization ......... 31.3 23.5 53.1 51.0 44.4 60.9 84.1 91.8 Bad debts, net of recoveries ............. 1.9 (0.7) 0.6 16.5 15.8 3.2 2.0 4.6 Other ......................... 31.5 32.2 65.1 66.4 60.6 64.4 77.4 76.6 Total compensation and other expenses .............. 771.1 682.8 1,421.9 1,323.4 1,205.1 1,510.2 1,703.7 1,795.4 Gain on acquisitions and other gains, net ........................ 5.7 6.9 8.8 25.4 6.4 7.6 8.8 7.6 Income before tax ... 214.0 168.0 354.1 323.0 277.2 400.1 418.0 479.5 Income tax expense .. 57.2 45.8 93.3 84.5 70.1 104.7 104.2 115.2 Net income ............... $156.8 $122.2 $260.8 $238.5 $207.1 $295.4 $313.8 $364.3

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Condensed Consolidated Balance Sheets: As of March 31, As of September 30, Pro Forma (Unaudited) As of March 31, 2025 2024 2024 2023 2022 2025 ($ in millions) Assets: Cash and cash equivalents ................ $1,307.3 $1,305.1 $1,269.0 $1,108.3 $1,108.5 $1,355.5 Restricted cash .................................. — 363.0 — — — — Cash, securities and other assets segregated under federal and other regulations ..................................... 2,850.3 2,838.4 2,841.2 2,426.3 3,267.2 3,825.3 Securities purchased under agreements to resell ....................... 6,917.6 3,744.6 5,201.5 2,979.5 1,672.0 9,326.6 Securities borrowed .......................... 1,803.9 1,430.6 1,662.3 1,129.1 1,209.8 1,803.9 Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net ................................................. 7,261.2 7,706.5 7,283.2 7,443.8 6,842.6 9,913.0 Receivable from clients, net .............. 1,354.9 1,293.4 1,013.1 683.1 566.2 1,361.5 Notes receivable, net ......................... — — — 5.2 5.1 — Income taxes receivable .................... 27.8 32.9 19.3 25.1 16.8 27.8 Financial instruments owned, at fair value .............................................. 8,200.9 5,666.5 6,767.1 5,044.8 4,167.3 8,230.1 Physical commodities inventory, net 796.2 616.9 681.1 537.3 513.5 796.2 Deferred tax assets ............................ 50.3 42.3 46.3 45.4 52.0 50.3 Property and equipment, net ............. 146.3 134.2 143.1 123.5 112.9 165.2 Operating right of use assets ............. 159.8 146.4 157.0 122.1 121.8 172.1 Goodwill and intangible assets, net... 90.0 79.5 80.6 82.4 86.2 565.9 Other assets ....................................... 316.4 250.7 301.5 182.8 117.7 368.7 Total assets .......................................... $31,282.9 $25,651.0 $27,466.3 $21,938.7 $19,859.6 $37,962.1 Liabilities: Accounts payable and other accrued liabilities ....................................... $531.3 $491.8 $522.1 $533.0 $400.6 $586.7 Operating lease liabilities .................. 201.9 181.9 195.9 149.3 143.0 214.8 Payables to clients............................. 10,712.6 11,165.4 10,345.9 9,976.0 9,891.0 16,269.5 Payables to broker-dealers, clearing organizations and counterparties ... 578.7 391.7 734.2 442.4 659.8 607.7 Payables to lenders under loans ........ 340.9 253.6 338.8 341.0 485.1 340.9 Senior secured borrowings, net ......... 543.6 885.9 543.1 342.1 339.1 1,159.1 Income taxes payable ........................ 13.4 36.6 18.1 38.2 16.2 8.1 Deferred tax liabilities ...................... 25.2 8.2 8.6 8.1 — 41.2 Securities sold under agreements to repurchase ..................................... 11,137.3 6,011.7 8,581.3 4,526.6 3,195.6 11,137.3 Securities loaned ............................... 1,509.9 1,458.6 1,615.9 1,117.3 1,189.5 1,509.9 Financial instruments sold, not yet purchased, at fair value ................. 3,806.1 3,223.0 2,853.3 3,085.6 2,469.6 3,806.1 Liabilities subordinated to claims of general creditors ............................ — — — — — 138.3 Total liabilities .................................... $29,400.9 $24,108.4 $25,757.2 $20,559.6 $18,789.5 $35,819.6 Stockholder's equity: Preferred stock .................................. — — — — — — Common stock .................................. 0.5 0.4 0.4 0.4 0.4 0.5 Treasury stock ................................... (69.3) (69.3) (69.3) (69.3) (69.3) (69.3)

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As of March 31, As of September 30, Pro Forma (Unaudited) As of March 31, 2025 2024 2024 2023 2022 2025 ($ in millions) Additional paid-in-capital ................. 436.9 390.8 414.3 371.7 340.0 711.9 Retained earnings.............................. 1,545.7 1,250.3 1,388.9 1,128.1 889.6 1,531.2 Accumulated other comprehensive loss, net ......................................... (31.8) (29.6) (25.2) (51.8) (90.6) (31.8) Total equity ......................................... $1,882.0 $1,542.6 $1,709.1 $1,379.1 $1,070.1 $2,142.5 Total liabilities and stockholders' equity ................................................ $31,282.9 $25,651.0 $27,466.3 $21,938.7 $19,859.6 $37,962.1 Non-GAAP Financial Information: The following table reconciles net income to EBITDA, Adjusted EBITDA and Pro Forma Adjusted EBITDA: Pro Forma (Unaudited) Six Months Ended March 31, Year Ended September 30, Twelve Months Ended March 31, Fiscal Year Ended September 30, Twelve Months Ended March 31, 2025 2024 2024 2023 2022 2021 2020 2025 2024 2025 ($ in millions) Net income $156.8 $122.2 $260.8 $238.5 $207.1 $116.3 $169.6 $295.4 $313.8 $364.3 Interest expense 652.8 524.6 1,183.5 859.7 180.2 90.9 104.0 1,311.7 1,368.3 1,488.6 Depreciation and amortization 31.3 23.5 53.1 51.0 44.4 36.5 19.7 60.9 84.1 91.8 Income tax expense 57.2 45.8 93.3 84.5 70.1 37.8 37.1 104.7 104.2 115.2 EBITDA(1) $898.1 $716.1 $1,590.7 $1,233.7 $501.8 $281.5 $330.4 $1,772.7 $1,870.4 $2,059.9 Adjustments Amortization of share- based compensation 22.0 16.8 37.2 28.0 17.8 13.9 10.3 42.4 37.2 42.4 Interest expense attributable to trading activities (622.8) (495.2) (1,115.7) (802.2) (135.5) (49.6) (80.4) (1,243.3) (1,234.4) (1,356.1) Gain on acquisitions(2) — — — (23.5) — (3.3) (81.9) — — — Acquisition-related expenses(3) — — — — — 4.5 15.3 — — — Gain on class action settlements (5.7) (6.9) (8.8) (2.1) (6.4) — — (7.6) (8.8) (7.6) Adjusted EBITDA(1) $291.6 $230.8 $503.4 $433.9 $377.7 $247.0 $193.7 $564.2 $664.4 $738.6 Plus: estimated synergies(4) 50.0 Pro Forma Adjusted EBITDA(1) $788.6 (1) EBITDA, a non-GAAP measure used to measure operating performance, is defined as net income plus interest expense, depreciation and amortization, and income tax expense. Adjusted EBITDA represents EBITDA plus amortization of share-based compensation and less interest expenses attributable to trading activities, including the credit facilities of our subsidiaries, gain on acquisitions, acquisition-related expenses, and gain on class action settlements. Pro Forma Adjusted EBITDA is defined as Adjusted EBITDA, as adjusted to give effect to the Transactions and expected cost synergies. There can be no assurance that we will be able to achieve the synergies referenced above that are included in Pro Forma Adjusted EBITDA. For more information about our expected synergies from the Acquisition, including certain factors that may affect our ability to achieve such synergies, see "Risk Factors—Risks Related to the Acquisition—We may be unable to realize anticipated cost synergies and expects to

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incur substantial expenses related to the Acquisition, which could have a material adverse effect on our business, financial condition and results of operations." Each of the EBITDA-based measures described above is not a presentation made in accordance with GAAP and should not be considered as an alternative to net income or any other performance measures derived in accordance with GAAP as a measure of operating performance or to cash flows as a measure of liquidity. Additionally, each such measure is not intended to be a measure of free cash flows available for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Such measures have limitations as analytical tools, and you should not consider any of such measures in isolation or as substitutes for our results as reported under GAAP. Management compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. Because not all companies use identical calculations, these EBITDA-based measures may not be comparable to other similarly titled measures of other companies. See "Use of Non-GAAP Financial Information." The Company believes EBITDA is helpful in highlighting the business's trends because EBITDA excludes the results of decisions that are outside the control of management and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate and capital investments. In addition, EBITDA provides more comparability between the historical operating results and pro forma operating results that reflect purchase accounting and the new capital structure. The Company believes that the inclusion of supplementary adjustments to EBITDA applied in presenting Adjusted EBITDA and Pro Forma Adjusted EBITDA are appropriate to provide additional information about certain material non-cash items and about certain items that the business does not expect to continue at the same level in the future as well as others. The information can also be used to perform trend analyses and to better identify operating trends that may otherwise be masked or distorted. Finally, the Issuer believes such information provides a higher degree of transparency. Each of the EBITDA-based measures described above are not presentations made in accordance with GAAP and should not be considered as an alternative to net income or any other performance measures derived in accordance with GAAP as a measure of operating performance or to cash flows as a measure of liquidity. Additionally, each such measure is not intended to be a measure of free cash flows available for management's discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Such measures have limitations as analytical tools, and you should not consider any of such measures in isolation or as substitutes for our results as reported under GAAP. Management compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. Because not all companies use identical calculations, these EBITDA-based measures may not be comparable to other similarly titled measures of other companies. See "Use of Non-GAAP Financial Information." The Company believes EBITDA is helpful in highlighting the business's trends because EBITDA excludes the results of decisions that are outside the control of management and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate and capital investments. In addition, EBITDA provides more comparability between the historical operating results and pro forma operating results that reflect purchase accounting and the new capital structure. The Company believes that the inclusion of supplementary adjustments to EBITDA applied in presenting Adjusted EBITDA are appropriate to provide additional information about certain material non-cash items and about certain items that the business does not expect to continue at the same level in the future as well as others. The information can also be used to perform trend analyses and to better identify operating trends that may otherwise be masked or distorted. Finally, the Issuer believes such information provides a higher degree of transparency. (2) The gain on acquisitions adjustment represents (x) a $23.5 million of non-taxable gain on the acquisition of CDI on October 31, 2022 for the fiscal year ended September 30, 2023, (y) a $3.3 million of non-taxable gain (an adjustment to the final liabilities assumed) in the acquisition of Gain Capital Holdings, Inc. for the fiscal year ended September 30, 2021 and (z) a $81.9 million non-taxable gain on the acquisition of Gain Capital Holdings, Inc. on August 1, 2020 for the fiscal year ended September 30, 2020. (3) The acquisition-related expenses adjustment represents (x) $4.5 million of acquisition-related expenses related to the acquisition of Gain Capital Holdings, Inc., including a hedge loss on Gain UK assets (excluding an additional $10.6 million of amortization of acquired intangible assets that has already been excluded in the calculation of EBITDA) for the fiscal year ended September 30, 2021 and (y) $15.3 million of acquisition-related expenses related to the acquisition of Gain Capital Holdings, Inc. (an additional $1.7 million of amortization of acquired intangible assets has already been excluded in the calculation of EBITDA) for the fiscal year ended September 30, 2020. (4) Estimated synergies represents the expense synergies we expect to realize from consolidation of operations in connection with the Acquisition, including (x) $15.0 million in synergies we expect to achieve through the harmonization of clearing technology and platforms and (y) $35.0 million in synergies from we expect to achieve through the removal of duplication and the elimination of redundant infrastructure and support by adopting a best-of-breed approach. See "Risk Factors—Risks Related to the Acquisition—We may be unable to realize anticipated cost synergies and expects to incur substantial expenses related to the Acquisition, which could have a material adverse effect on our business, financial condition and results of operations."

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Key Financial Data: Pro Forma (Unaudited) Six Months Ended March 31, Year Ended September 30, Twelve Months Ended March 31, Fiscal Year Ended September 30, Twelve Months Ended March 31, 2025 2024 2024 2023 2022 2021 2020 2025 2024 2025 ($ in millions) Adjusted EBITDA(5) $291.6 $230.8 $503.4 $433.9 $377.7 $247.0 $193.7 $564.2 $664.4 $738.6 Pro Forma Adjusted EBITDA(5) ............... $788.6 Committed syndicated loan facility1)(2).......... $50.0 $25.0 $161.0 $150.0 $260.0 $170.3 $203.1 $50.0 $161.0 $50.0 Bank Note Payable(1) ..... 6.7 7.2 6.9 7.5 8.1 8.6 — 6.7 6.9 6.7 First Lien HoldCo Debt 56.7 32.2 167.9 157.5 268.1 178.9 203.1 56.7 167.9 56.7 Senior Secured Notes(1)(3) ................... 550.0 897.9 550.0 347.9 347.9 347.9 349.5 550.0 1,175.0 1,175.0 Total HoldCo Debt........ $606.7 $930.1 $717.9 $505.4 $616.0 $526.8 $552.6 $606.7 $1,342.92 $1,231.7 Pro Forma First Lien HoldCo Leverage Ratio(1)(4) ............... 0.07x Pro Forma Total HoldCo Leverage Ratio(1)(4) ............... 1.56x (1) In each case, for StoneX Group Inc. (2) Includes, for the Pro Forma Fiscal Year Ended September 30, 2024 and the Pro Forma Twelve Months Ended March 31, 2025, the amount of liabilities subordinated to claims of general creditors of RJO. (3) Includes, for the Pro Forma Fiscal Year Ended September 30, 2024 and the Pro Forma Twelve Months Ended March 31, 2025, $625.0 million in aggregate principal amount of the Notes offered hereby excluding estimated deferred financing costs of $7.3 million and assuming the Notes are issued at par. (4) Pro Forma First Lien HoldCo Leverage Ratio represents the ratio of our First Lien Holdco Debt, on a pro forma basis after giving effect to the Transactions, to Pro Forma Adjusted EBITDA. Pro Forma Total HoldCo Leverage Ratio represents the ratio of our Total Holdco Debt, on a pro forma basis after giving effect to the Transactions, to Pro Forma Adjusted EBITDA. Our calculation of these ratios may differ under the credit agreement governing our Revolving Credit Facility, the indenture governing the Existing Notes and the indenture that will govern the notes offered hereby. (5) See footnote (1) above under "Non-GAAP Financial Information". Pro Forma (Unaudited) Six Months Ended March 31, Year Ended September 30, Twelve Months Ended March 31, Fiscal Year Ended September 30, Twelve Months Ended March 31, 2025 2024 2024 2023 2022 2021 2020 2025 2024 2025 ($ in millions) Net income (GAAP) ............... $156.8 $122.2 $260.8 $238.5 $207.1 $116.3 $169.6 $295.4 $313.8 $364.3 Gain on acquisitions(1) ....... — — — (23.5) — (3.3) (81.9) — — — Acquisition related expenses, net of tax(2) ..................... 0.9 1.8 3.4 8.0 7.7 11.3 12.0 2.5 3.4 2.5 Adjusted net income (non- GAAP)(3) ............. $157.7 $124.0 $264.2 $223.0 $214.8 $124.3 $99.7 $297.9 $317.2 $366.8 Stockholders' equity (beginning) .......... 1,709.1 1,379.1 1,379.1 1,070.1 904.0 767.5 594.2 1,542.6 1,639.6 1,969.6 Stockholders' equity (ending) .... 1,882.0 1,542.6 1,709.1 1,379.1 1,070.1 904.0 767.5 1,882.0 1,969.6 2,142.5

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro Forma (Unaudited) Six Months Ended March 31, Year Ended September 30, Twelve Months Ended March 31, Fiscal Year Ended September 30, Twelve Months Ended March 31, 2025 2024 2024 2023 2022 2021 2020 2025 2024 2025 ($ in millions) Average stockholders' equity ................... $1,795.6 $1,460.9 $1,544.1 $1,224.6 $987.1 $835.8 $680.9 $1,712.3 $1,804.6 $2,056.1 Adjusted Return on Equity ("ROE")(4) ........... 17.6% 17.0% 17.1% 18.2% 21.8% 14.9% 14.6% 17.4% 17.6% 17.8% (1) The gain on acquisition adjustment represents (x) $23.5 million of non-taxable gain on the acquisition of CDI on October 31, 2022 for the fiscal year ended September 30, 2023, (y) $3.3 million of non-taxable gain (an adjustment to the final liabilities assumed) in the acquisition of Gain Capital Holdings, Inc. for the fiscal year ended September 30, 2021 and (z) $81.9 million non-taxable gain on the acquisition of Gain Capital Holdings, Inc. on August 1, 2020 for the fiscal year ended September 30, 2020. (2) The acquisition-related expenses adjustment represents (t) $0.9 million (net of tax of $0.4 million) of acquisition-related expenses related to the acquisitions of CDI and Gain with respect to amortization of acquired intangible assets for the six months ended March 31, 2025, (u) $1.8 million (net of tax of $0.7 million) of acquisition-related expenses related to the acquisitions of CDI and Gain with respect to amortization of acquired intangible assets for the six months ended March 31, 2024, (v) $3.4 million (net of tax of $1.3 million) of acquisition-related expenses related to the acquisitions of CDI and Gain with respect to amortization of acquired intangible assets for the fiscal year ended September 30, 2024, (w) $8.0 million (net of tax of $3.0 million) of acquisition-related expenses related to the acquisition of CDI and Gain with respect to amortization of acquired intangible assets for the fiscal year ended September 30, 2023, (x) $7.7 million (net of tax of $2.9 million) of acquisition-related expenses related to amortization of acquired intangible assets for the fiscal year ended September 30, 2022, (y) $11.3 million (net of tax of $3.8 million) of acquisition related expenses related to the acquisition of Gain Capital Holdings, Inc. for the fiscal year ended September 30, 2021 and (z) $12.0 million (net of tax of $5.0 million) of acquisition related expenses related to the acquisition of Gain Capital Holdings, Inc. for the fiscal year ended September 30, 2020. (3) Adjusted net income (non-GAAP) is presented to reflect net income for each period, adjusted to exclude the effects of gain on acquisitions and acquisition-related expenses, net of tax. (4) Adjusted ROE is calculated by dividing adjusted net income by average stockholders' equity. For six months ended periods, Adjusted ROE is calculated by annualizing the Adjusted net income for the period by average stockholders' equity.

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SUMMARY HISTORICAL CONSOLIDATED FINANCIAL INFORMATION AND OTHER DATA OF RJO The following tables set forth certain summary historical consolidated financial and other data of RJO as of the dates and for the periods indicated. The summary historical consolidated financial data as of and for the year ended December 31, 2024 has been derived from, and should be read together with, RJO's audited consolidated financial statements included in this offering memorandum, which have been audited by (i) RSM US LLP, an independent registered public accounting firm, as of December 31, 2024 and for the year then ended. The summary historical condensed consolidated financial data as of and for the three months ended March 31, 2025 has been derived from, and should be read together with, the RJO's unaudited consolidated financial statements included in this offering memorandum. RJO's unaudited consolidated financial statements for the three months ended March 31, 2025 are unaudited but were prepared on a basis consistent with the RJO's audited consolidated financial statements for the year ended December 31, 2024 and include, in the opinion of RJO's management, all adjustments necessary for a fair statement of RJO's financial condition, results of operations and cash flows. Results for the three months ended March 31, 2025 are not necessarily indicative of the results that may be expected for the full year. See "Unaudited Pro Forma Condensed Combined Financial Information". The historical results presented below are not necessarily indicative of financial results to be achieved in future periods. Future periods could differ materially from historical levels due to many factors, including, but not limited to, those discussed and referred to in "Risk Factors." The summary historical consolidated financial information should be read in conjunction with "— Summary Historical Consolidated and Pro Forma Condensed Combined Financial Information and Other Data of StoneX," "—The Transactions," "Use of Proceeds," and "Unaudited Pro Forma Condensed Combined Financial Information" elsewhere in this offering memorandum. Condensed Consolidated Statements of Operations of RJO: Three Months Ended March 31, 2025 Fiscal Year Ended December 31, 2024 ($ in millions) Income Statement data: Revenues: Commissions and fees ....................................................................... $157.7 $589.0 Interest (net of interest rebated) ......................................................... 37.5 166.0 Realized (loss) on sale of securities ................................................... — (0.8) Other income ..................................................................................... 3.1 14.4 Total revenues .................................................................................. 198.3 768.6 Expenses: Commissions ..................................................................................... 79.0 278.7 Brokerage and exchange fees ............................................................ 45.9 182.9 Employee compensation and benefits ............................................... 20.8 82.4 Interest ............................................................................................... 3.5 18.5 Depreciation and amortization ........................................................... 3.0 13.5 Communications ................................................................................ 3.4 12.8 Professional fees ................................................................................ 1.6 6.0 Occupancy ......................................................................................... 1.8 7.6 Software support and maintenance .................................................... 2.9 9.6 Travel and entertainment ................................................................... 1.1 5.3 Other expenses .................................................................................. 3.8 18.2 Total expenses .................................................................................. 166.8 635.5 Income before change in value of marketable securities ................... 31.5 133.1 Change in value of marketable securities and firm owned securities 14.2 (4.1) Income before income tax expense ................................................. 45.7 129.0

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&nbsp;&nbsp;&nbsp;&nbsp;Three Months Ended March 31, 2025 Fiscal Year Ended December 31, 2024 ($ in millions) Income tax expense ........................................................................... 9.9 28.3 Net income ........................................................................................ $35.8 $100.7

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## Exhibit 99.2

**Exhibit 99.2&nbsp;&nbsp;&nbsp;&nbsp;**

**StoneX Group Inc. Announces Private Offering of $625.0 Million of Senior Secured Notes due 2032**

June 23, 2025

NEW YORK, June 23, 2025 (GLOBE NEWSWIRE) -- StoneX Group Inc. (the "Company" or "StoneX"; NASDAQ: SNEX), today announced an offering, subject to market conditions and other factors, $625.0 million in aggregate principal amount of Senior Secured Notes due 2032 (the "Notes") to be issued by its wholly-owned subsidiary, StoneX Escrow Issuer LLC. The Notes and the related Note guarantees will be offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain persons outside the United States pursuant to Regulation S under the Securities Act.

StoneX Escrow Issuer LLC, which was created solely to issue the Notes in connection with the Merger (as defined below), will deposit the gross proceeds of the offering into a segregated escrow account (the "Escrowed Proceeds") until the date that certain escrow release conditions are satisfied. Upon the closing of the Company's proposed acquisition (the "Merger") of R.J. O'Brien ("RJO"), StoneX Escrow Issuer LLC will merge with and into the Company, and the Escrowed Proceeds will be released. The Company will thereupon assume the obligations under the Notes. Upon the closing of the Merger and release of the Escrowed Proceeds, the Company intends to use the proceeds from the offering together with cash on hand to pay the purchase price and related fees, costs, premiums and expenses in connection with Merger.

Until the completion of the Merger, the Notes will not be guaranteed and will be secured only by a senior secured first priority lien on the Escrowed Proceeds. Upon the closing of the Merger, the Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior secured second lien basis by each of the Company's existing and future subsidiaries that guarantees indebtedness under the Company's senior secured revolving credit facility and certain other senior indebtedness. The guarantees are subject to release under specified circumstances. Upon the closing of the Merger, the Notes and the related guarantees will be secured on a second priority basis by liens on substantially all of the Company's and the guarantors' property and assets, subject to certain exceptions and permitted liens. The liens on the Company's and the guarantors' assets that secure the Notes and the related guarantees will be contractually subordinated to the liens on the Company's and the guarantors' assets that secure the Company's and the guarantors' existing and future first lien obligations, including indebtedness under the Company's senior secured revolving credit facility, as a result of an intercreditor agreement among the collateral agent for the Notes, the agent for the Company's senior secured revolving credit facility and the collateral agent for the Company's existing senior secured notes due 2031. The Notes are expected to pay interest semi-annually, in arrears. This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes, the related

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guarantees or any other security, nor shall there be any offer, solicitation or sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offers of the Notes and the related guarantees will be made only by means of a private offering memorandum. The Company gives no assurance that the proposed offering can be completed on any terms or at all.

The offer and sale of the Notes and related guarantees have not been, and will not be, registered under the Securities Act, or the securities laws of any other jurisdiction, and the Notes and related guarantees may not be offered or sold in the United States absent registration or applicable exemptions from registration requirements.

**Cautionary Note Regarding Forward-Looking Statements** 

Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including those described in StoneX's public filings with the Securities and Exchange Commission. Forward-looking statements are based on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements about the benefits of the proposed acquisition of RJO, including expected synergies and future financial and operating results, the plans, objectives, expectations and intentions of StoneX after the acquisition, the expected timing to close the acquisition, closing of the offering and expected use of proceeds. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Therefore, we caution you against relying on any of these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the risks related to the proposed acquisition and the integration of RJO as well as the risks and other factors described in StoneX's periodic reports filed with the Securities and Exchange Commission. In providing forward-looking statements, StoneX is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If StoneX updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

**About StoneX Group Inc.**

StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve

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their business performance. A Fortune-100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its more than 4,700 employees serve more than 54,000 commercial, institutional, and global payments clients, and more than 400,000 self-directed/retail accounts, from more than 80 offices spread across six continents.

StoneX Group Inc.

Investor inquiries:

Kevin Murphy

(212) 403 – 7296

kevin.murphy@stonex.com

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