Perella Weinberg Partners - PWP STOCK NEWS

Perella Weinberg Partners (PWP) announced that the SEC has declared effective its Form S-4 registration statement for the exchange offer regarding its Warrants. The Offer will expire on August 18, 2022. In exchange for each Warrant, holders will receive 0.20 shares of Class A Common Stock, with up to 1,573,995 shares available for exchange. A simultaneous consent solicitation aims to amend the warrant agreement, requiring 65% approval from Public Warrants holders. Currently, 45.9% of these holders have agreed to participate.

Perella Weinberg Partners (PWP) reported second quarter 2022 revenues of $151.1 million, down 41% from $255.5 million in Q2 2021. Adjusted net income was $23.1 million compared to $61.7 million a year earlier. First half revenues also fell 29% to $303.0 million. GAAP net income for Q2 was $2.7 million, well below $9.0 million last year. The decline reflects lower M&A activity. With no debt and a strong balance sheet, PWP repurchased $51.7 million in shares and declared a quarterly dividend of $0.07 per share. CEO Peter Weinberg emphasized a focus on strategic growth and talent acquisition.

Perella Weinberg Partners (PWP) has launched an exchange offer and consent solicitation for its Public and Private Placement Warrants. The aim is to simplify its capital structure and reduce potential dilutive impacts. Warrantholders can exchange each warrant for 0.20 shares of Class A Common Stock, with a maximum of 1,573,995 shares available. Additionally, a Warrant Amendment seeks consent to convert outstanding warrants into 0.18 shares. The offer, expiring on August 18, 2022, requires at least 65% consent from holders. Citigroup serves as dealer manager for the offer.

Perella Weinberg Partners (NASDAQ:PWP) announced it will release its Q2 2022 financial results on August 4, 2022, prior to market opening. A conference call and webcast will follow at 9:00 AM ET the same day to discuss these results. Interested parties can listen in via PWP's Investor Relations website. For further engagement, the call will be accessible through various dial-in numbers, with a replay available until August 11, 2022.

PWP is a global advisory firm offering strategic and financial advice to a diverse client base, employing around 600 professionals across multiple global offices.

Perella Weinberg Partners (PWP) appoints R.A. McDonough as Partner, establishing its Power & Utilities practice and enhancing its Energy Transition initiatives. Based in Los Angeles, McDonough will provide strategic financial advice and lead PWP's North American efforts in this sector. He brings over 30 years of M&A and advisory experience, previously serving as Managing Director at J.P. Morgan. CEO Peter Weinberg emphasized the importance of McDonough's expertise to accelerate growth in the Power and Utilities market, which is seen as a significant opportunity for PWP.

Perella Weinberg Partners (Nasdaq: PWP) announced the appointment of Stéphane Richard as a Partner in its Paris office, effective June 1, 2022. Mr. Richard has extensive experience in telecommunications, having served as CEO of Orange for over a decade. His strong relationships within the French business community and extensive background in financial and operational roles will bolster PWP's advisory capabilities in France and Europe. The firm has seen growth since opening its Paris office in 2018, focusing on delivering strategic advice to a range of clients.

Perella Weinberg Partners (PWP) reported Q1 2022 revenues of $151.9 million, down 11% from $169.8 million in Q1 2021. Adjusted net income was $20.5 million, with a GAAP net income of $1.1 million. The firm maintained a strong balance sheet with no debt and declared a quarterly dividend of $0.07 per share. PWP added four advisory partners during the year to support growth, despite a decline in U.S. M&A activity affecting overall revenues. The CEO highlighted that the firm's growth strategy remains intact amid market volatility.

Perella Weinberg Partners (PWP) has announced its plan to release financial results for Q1 2022 on May 5, 2022, ahead of market opening. Management will host a conference call at 9:00 AM ET on the same day to discuss the results, available via webcast on PWP's website. The company, a global independent advisory firm, provides strategic and financial advice to various clients including corporations and governments. PWP operates from multiple offices worldwide, employing approximately 600 personnel.

Perella Weinberg Partners (PWP) reported a strong financial performance for 2021, with record revenues of $801.7 million, a 54% increase from 2020. The fourth quarter saw revenues rise to $198.9 million, up 5% year-over-year. Despite a GAAP net loss of $18.0 million in Q4, adjusted net income was $38.4 million. The firm announced a $100 million share buyback plan and a $0.07 quarterly dividend, reflecting confidence in future growth. PWP maintains a strong balance sheet with no indebtedness and $502.8 million in cash.