Hamilton Lane Announces Public Offering of Class A Common Stock

Rhea-AI Summary

Hamilton Lane (NASDAQ: HLNE) has initiated an underwritten public offering of 2,207,380 shares of Class A common stock. The offering aims to settle cash exchanges of membership units in Hamilton Lane Advisors for certain members. Notably, Hamilton Lane will not receive proceeds from the sale by the selling stockholder. J.P. Morgan Securities LLC is the underwriter. As of June 30, 2020, Hamilton Lane manages $516 billion in assets, including approximately $68 billion in discretionary assets.

Positive

• Plans to use proceeds to facilitate cash exchanges of membership units.
• Management of approximately $516 billion in assets suggests strong market position.

Negative

• Issuing 2,207,380 shares may lead to shareholder dilution.

BALA CYNWYD, Pa., Sept. 01, 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 2,207,380 shares of Class A common stock, in the aggregate, to be sold by Hamilton Lane and one selling stockholder, 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 stockholder.

J.P. Morgan Securities LLC is acting as book-running manager and underwriter 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
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Attention: Prospectus Department
Telephone: (866) 803-9204

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 29 years, the firm currently employs over 400 professionals operating in offices throughout North America, Europe, Asia-Pacific and the Middle East. Hamilton Lane has approximately $516 billion in assets under management and supervision, composed of approximately $68 billion in discretionary assets and over $447 billion in advisory assets, as of June 30, 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 the offering by Hamilton Lane (HLNE)?

Hamilton Lane is offering 2,207,380 shares of Class A common stock.

Why is Hamilton Lane conducting a public offering?

The proceeds will be used to settle cash exchanges of membership units held by certain members.

Who is the underwriter for Hamilton Lane's public offering?

J.P. Morgan Securities LLC is acting as the book-running manager and underwriter.

Will Hamilton Lane receive proceeds from the selling stockholder?

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