Focus Financial Partners Full Exercise of Underwriters' Option

Rhea-AI Summary

Focus Financial Partners Inc. (NASDAQ:FOCS) has announced that underwriters fully exercised their option to purchase 462,631 additional shares in its underwritten offering of 3,084,210 shares, which will close on December 20, 2021. The net proceeds from this offering will be directed to Focus LLC in exchange for newly issued common units, intended for general corporate purposes. The offering is managed by Goldman Sachs, BofA Securities, and SPC Capital Markets, with relevant filings available through the SEC.

Positive

• Underwriters exercised their option to purchase an additional 462,631 shares, enhancing capital raise.
• Net proceeds will be used for general corporate purposes, indicating potential for growth.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / December 17, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus") announced today that the underwriters of the previously announced underwritten offering of 3,084,210 shares of its Class A common stock (the "Offering") have exercised in full their option to purchase an additional 462,631 shares of Class A common stock (the "Option"). The Option is expected to close with the Offering on December 20, 2021, subject to customary closing conditions.

Focus will contribute the net proceeds from the sale of the shares of Class A common stock pursuant to the Option to Focus LLC in exchange for newly issued common units in Focus LLC. Focus LLC will use such contributed amount for general corporate purposes.

Goldman Sachs & Co. LLC, BofA Securities and SPC Capital Markets LLC are acting as joint book-running managers for the Offering. A shelf registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and is effective. The final prospectus relating to the Offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus relating to the Offering may be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com and BofA Securities, Prospectus Department, NC1‑004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or by emailing dg.prospectus_requests@bofa.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy shares of Class A common stock and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.

About Focus Financial Partners Inc.

Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives.

Cautionary Note Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the Offering and the Option and the use of proceeds therefrom, represent Focus's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Focus's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Focus does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Focus to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Focus's filings with the SEC, including Focus's annual report on Form 10-K for the year ended December 31, 2020. The risk factors and other factors noted therein could cause its actual results to differ materially from those contained in any forward-looking statement.

Investor and Media Contacts

Tina Madon
Senior Vice President
Head of Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-813-2909
tmadon@focuspartners.com

Charlie Arestia
Vice President
Investor Relations & Corporate Communications
Focus Financial Partners
P: +1-646-560-3999
carestia@focuspartners.com

SOURCE: Focus Financial Partners Inc.

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FAQ

What was the recent offering announced by Focus Financial Partners (FOCS)?

Focus Financial Partners announced an underwritten offering that included 3,084,210 shares, with underwriters exercising an option for an additional 462,631 shares.

When is the closing date for Focus Financial Partners' offering?

The offering is expected to close on December 20, 2021.

What will the proceeds from the share offering be used for?

The net proceeds will be contributed to Focus LLC for general corporate purposes.

Who are the managers of the Focus Financial Partners offering?

Goldman Sachs, BofA Securities, and SPC Capital Markets are the joint book-running managers for the offering.