Hamilton Lane Inc. announced the pricing of a public offering by the company and certain selling stockholders of 3,940,000 shares of class A common stock at $34.25 per share.
Hamilton Lane also granted the underwriters an option to purchase up to an additional 591,001 class A shares from the company at the public offering price. The offering is subject to closing conditions and is expected to close on March 5.
The company intends to use the proceeds from the sale of its shares to settle in cash exchanges of membership units in Hamilton Lane Advisors LLC held by certain of its members. Hamilton Lane will not receive any proceeds from the sale of shares by the selling stockholders.
J. P. Morgan and Morgan Stanley are acting as lead joint book-running managers for the offering. Goldman Sachs & Co. LLC is acting as lead co-manager and Keefe Bruyette & Woods, Wells Fargo Securities and Freeman & Co. Securities are acting as co-managers.
