Hamilton Lane Announces Pricing of Public Offering of Class A Common Stock
Hamilton Lane (Nasdaq: HLNE) has announced the pricing of a public offering of 1,572,536 shares of Class A common stock, with expected gross proceeds of approximately $252 million. The offering, which includes shares from both Hamilton Lane and a selling stockholder, is expected to close on February 12, 2025.
The company plans to use its portion of the proceeds to settle cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. held by certain members. Hamilton Lane will not receive any proceeds from the selling stockholder's share sale. Morgan Stanley is serving as the book-running manager and underwriter for the offering, which is being conducted under an effective shelf registration statement filed with the SEC.
Hamilton Lane (Nasdaq: HLNE) ha annunciato il prezzo di un'offerta pubblica di 1.572.536 azioni di azioni ordinarie di Classe A, con proventi lordi attesi di circa 252 milioni di dollari. L'offerta, che include azioni sia da Hamilton Lane che da un azionista venditore, dovrebbe chiudersi il 12 febbraio 2025.
L'azienda prevede di utilizzare la propria parte dei proventi per regolare scambi in contante di unità di adesione in Hamilton Lane Advisors, L.L.C. detenute da alcuni membri. Hamilton Lane non riceverà alcun provento dalla vendita di azioni dell'azionista venditore. Morgan Stanley funge da gestore e sottoscrittore dell'offerta, che viene condotta sotto una dichiarazione di registrazione efficace presentata alla SEC.
Hamilton Lane (Nasdaq: HLNE) ha anunciado el precio de una oferta pública de 1.572.536 acciones de acciones ordinarias de Clase A, con ingresos brutos esperados de aproximadamente 252 millones de dólares. La oferta, que incluye acciones tanto de Hamilton Lane como de un accionista vendedor, se espera que cierre el 12 de febrero de 2025.
La compañía planea utilizar su parte de los ingresos para liquidar intercambios en efectivo de unidades de membresía en Hamilton Lane Advisors, L.L.C. mantenidas por ciertos miembros. Hamilton Lane no recibirá ingresos por la venta de acciones del accionista vendedor. Morgan Stanley actúa como el gerente de libros y suscriptor de la oferta, que se está llevando a cabo bajo una declaración de registro efectiva presentada ante la SEC.
해밀턴 레인 (Nasdaq: HLNE)는 1,572,536 주의 클래스 A 보통주 공개 공모 가격을 발표했으며, 예상 총 수익은 약 2억 5,200만 달러입니다. 이번 공모는 해밀턴 레인과 한 주주로부터의 주식을 포함하며, 2025년 2월 12일에 종료될 것으로 예상됩니다.
회사는 일부 회원들이 보유한 해밀턴 레인 어드바이저스, L.L.C.의 회원 유닛 현금 교환을 정산하기 위해 수익의 일부를 사용할 계획입니다. 해밀턴 레인은 판매 주주의 주식 판매로부터 수익을 받지 않습니다. 모건 스탠리는 제안서의 주간 관리 및 인수업체로 활동하고 있으며, 이는 SEC에 제출된 유효한 선등록 성명서는 따라 진행됩니다.
Hamilton Lane (Nasdaq: HLNE) a annoncé le prix d'une offre publique de 1.572.536 actions d'actions ordinaires de Classe A, avec des produits bruts attendus d'environ 252 millions de dollars. L'offre, qui inclut des actions de Hamilton Lane et d'un actionnaire vendeur, devrait se clôturer le 12 février 2025.
L'entreprise prévoit d'utiliser sa part des produits pour régler des échanges en espèces d'unités d'adhésion dans Hamilton Lane Advisors, L.L.C. détenues par certains membres. Hamilton Lane ne recevra aucun produit de la vente d'actions de l'actionnaire vendeur. Morgan Stanley agit en tant que gestionnaire de livre et souscripteur pour l'offre, qui est réalisée sous une déclaration d'enregistrement de type shelf efficace déposée auprès de la SEC.
Hamilton Lane (Nasdaq: HLNE) hat den Preis für ein öffentliches Angebot von 1.572.536 Aktien der Class A Stammaktien bekannt gegeben, mit erwarteten Bruttoerlösen von etwa 252 Millionen US-Dollar. Das Angebot, das Aktien sowohl von Hamilton Lane als auch von einem verkaufenden Aktionär umfasst, soll am 12. Februar 2025 abgeschlossen werden.
Das Unternehmen plant, seinen Anteil an den Erlösen zur Abwicklung von Bartransaktionen von Mitgliedseinheiten in Hamilton Lane Advisors, L.L.C. zu verwenden, die von bestimmten Mitgliedern gehalten werden. Hamilton Lane wird keinen Erlös aus dem Verkauf der Aktien des verkaufenden Aktionärs erhalten. Morgan Stanley fungiert als Buchführer und Emittent für das Angebot, das unter einer wirksamen Shelf-Registrierungserklärung, die bei der SEC eingereicht wurde, durchgeführt wird.
- Substantial capital raise of $252 million through public offering
- Strategic restructuring of membership units through cash settlement
- Potential dilution of existing shareholders due to new share issuance
- No proceeds from selling stockholder portion will benefit the company
Insights
This secondary offering by Hamilton Lane represents a noteworthy capital markets transaction that warrants careful investor attention. The $252 million offering, comprising 1,572,536 shares of Class A common stock, serves multiple strategic purposes while potentially impacting the company's ownership structure.
The transaction's structure is particularly interesting - Hamilton Lane will use its portion of the proceeds to settle cash exchanges of membership units in Hamilton Lane Advisors, L.L.C., effectively facilitating an internal reorganization rather than raising growth capital. This approach suggests a focus on optimizing the ownership structure and enhancing liquidity for existing stakeholders rather than funding expansion initiatives.
Several key aspects deserve investor attention:
- The selection of Morgan Stanley as the sole book-runner indicates a targeted, efficient distribution strategy, likely aimed at institutional investors familiar with the private markets sector
- The offering's timing aligns with a period of increased interest in alternative asset managers, potentially capitalizing on favorable market conditions
- The transaction structure, involving both company and selling stockholder shares, provides liquidity opportunities while maintaining strategic flexibility
For existing shareholders, while this offering may result in some dilution, the strategic benefits of improved ownership structure and enhanced liquidity could outweigh the near-term impact. The transaction also demonstrates Hamilton Lane's ability to execute sophisticated capital markets transactions, which is particularly relevant given their role in private markets asset management.
Hamilton Lane intends to use the proceeds from the sale of its shares to settle in cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. held by certain of its members. Hamilton Lane will not receive any proceeds from the sale of shares by the selling stockholder.
Morgan Stanley is acting as book-running manager and underwriter for this offering.
The offering is being made pursuant to an effective shelf registration statement (Registration No. 333-283233), including a prospectus and related prospectus supplement, filed by Hamilton Lane with the Securities and Exchange Commission ("SEC"). These documents may be obtained for free by visiting the SEC's website at http://www.sec.gov or by contacting:
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street, 2nd Floor
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Hamilton Lane
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 740 professionals worldwide operating in offices throughout
Forward-Looking Statements
Some of the statements in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as "will," "expect," "believe," "estimate," "continue," "anticipate," "intend," "plan" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management's current expectations and projections relating to, among other things, the anticipated amount and terms of the offering and whether the offering will be completed. All forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different. For more information regarding the risks and uncertainties that we face, you should refer to the "Risk Factors" detailed in the prospectus and prospectus supplement related to the offering, as well as those in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.
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SOURCE Hamilton Lane
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