Hamilton Lane Announces Public Offering of Class A Common Stock

Rhea-AI Summary

Hamilton Lane (NASDAQ: HLNE) has launched an underwritten public offering of 2,995,757 shares of Class A common stock, with sales by the firm and three selling stockholders. The proceeds will be utilized for cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. The offering is subject to market conditions and is facilitated by J.P. Morgan and Goldman Sachs as joint book-running managers. Hamilton Lane will not receive funds from the selling stockholders' shares, emphasizing the exclusive financial maneuver.

Positive

• The offering's proceeds will aid in strategic cash exchanges of membership units, potentially enhancing liquidity.

Negative

• The offering could lead to shareholder dilution, impacting existing investors' ownership percentages.

BALA CYNWYD, Pa., June 02, 2020 (GLOBE NEWSWIRE) -- Private markets asset management firm Hamilton Lane Incorporated (NASDAQ: HLNE) (“Hamilton Lane”) today announced that it has commenced an underwritten public offering of 2,995,757 shares of Class A common stock, in the aggregate, to be sold by Hamilton Lane and three selling stockholders, subject to market and other conditions. 

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 stockholders.

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

The offering is being made pursuant to an effective shelf registration statement (Registration No. 333-227303), 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:

J.P. Morgan Securities LLC
Attn: Richard Sesny
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 1 (866) 803-9204
Email: preliminary_prospectus_delivery@jpmorgan.com

Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Telephone: 1 (866) 471-2526
Facsimile: (212) 902-9316
Email: prospectus-ny@ny.email.gs.com

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 a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 28 years, the firm currently employs approximately 400 professionals operating in offices throughout North America, Europe, Asia-Pacific, Latin America and the Middle East. Hamilton Lane has approximately $503 billion in assets under management and supervision, composed of approximately $69 billion in discretionary assets and over $434 billion in advisory assets, as of March 31, 2020.  Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis.

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 views with respect 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, 2020 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.

Investor Contact
John Oh
joh@hamiltonlane.com 
+1 610 617 6026

Media Contact
Kate McGann
kmcgann@hamiltonlane.com
+1 212 752 7853

FAQ

What is the size of Hamilton Lane's public offering on June 2, 2020?

Hamilton Lane announced a public offering of 2,995,757 shares of Class A common stock.

What will Hamilton Lane use the proceeds from the offering for?

The proceeds will be used to settle cash exchanges of membership units in Hamilton Lane Advisors, L.L.C.

Who are the underwriters for Hamilton Lane's public offering?

The underwriters for the offering are J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC.

Will Hamilton Lane receive any proceeds from the shares sold by the stockholders?

No, Hamilton Lane will not receive any proceeds from the sale of shares by the selling stockholders.

How can investors obtain the prospectus for Hamilton Lane's offering?

Investors can obtain the prospectus for free by visiting the SEC's website.