P10 prices IPO, completes reverse stock split

Private markets solutions provider P10 Inc. priced its IPO of 20,000,000 shares of class A common stock at a price of $12.00 per share.

Of the offered shares, 11,500,000 shares are being sold by P10, while 8,500,000 shares are being sold by certain stockholders of the company.

The underwriters were given a 30-day option to buy from the selling stockholders up to an additional 3,000,000 shares at the IPO price, less underwriting discounts and commissions. P10 will not receive any proceeds from the sale of shares by the selling stockholders.

The offering is anticipated to close by Oct. 25. P10's class A common stock is expected to start trading on the NYSE Oct. 21 under the ticker symbol PX.

Morgan Stanley, J.P. Morgan and Barclays are serving as lead bookrunning managers for the offering. UBS Investment Bank, Keefe Bruyette & Woods, Oppenheimer and Stephens Inc. are acting as bookrunning managers, while East West Markets is working as co-manager.

Additionally, P10 Holdings Inc. and P10 started a reorganization under which P10 Holdings effected a reverse stock split of its outstanding common shares on a 0.7-for-1 basis. The split-adjusted common stock of P10 Holdings was automatically exchanged for an equivalent number of shares of class B common stock of P10.

P10 Holdings became a wholly owned subsidiary of P10 and stopped trading on the OTC Pink Open Market.