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Hamilton Lane nets $63.9M from common stock offering

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Hamilton Lane nets $63.9M from common stock offering

Hamilton Lane Inc. announced the closing of an underwritten public offering by the company and a selling stockholder of a total of 1,449,303 class A common shares.

The Bala Cynwyd, Pa.-based private markets asset management company received approximately $63.9 million in net proceeds and intends to use the money to settle in cash exchanges of membership units in Hamilton Lane Advisors LLC held by certain of its members.

Hamilton Lane did not receive any proceeds from the sale by the selling stockholder.

J.P. Morgan and Goldman Sachs & Co. LLC acted as joint book-running managers and underwriters for the offering.