Hamilton Lane Inc. commenced a public offering of 3,940,000 shares of class A common stock.
The company is selling 3,243,685 shares under the offering and certain selling stockholders are offering 696,315 shares. Hamilton Lane has also granted the underwriters a 30-day option to purchase up to an additional 591,001 shares from the company.
Hamilton Lane intends to use the proceeds from the sale of its shares to settle in cash exchanges of 3,243,685 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 will act as lead joint book-running managers for the offering. Goldman Sachs & Co. LLC will act as lead co-manager and Keefe Bruyette & Woods, Wells Fargo Securities and Freeman & Co. Securities will act as co-managers.