Oaktree Capital Group LLC has priced its previously announced public offering of 5 million class A units at $44.75 each.
The offering is expected to close Feb. 12.
Morgan Stanley, as the offering's sole book runner, will have a 30-day option to buy up to an additional 750,000 class A units.
Based on the company's price point for the class A units and assuming full exercise of the underwriter's option, S&P Global Market Intelligence calculates a gross offering size of about $257.3 million.
As previously announced, Oaktree plans to use the offering's proceeds to acquire interests in its business from some of its directors, current and former employees and other investors. By doing so, the company would not retain any of the offering's proceeds.
