Perella Weinberg Partners Commences Public Offering of Class A Common Stock

Rhea-AI Summary

Perella Weinberg Partners (PWP) announced a public offering of 3,502,033 shares of Class A common stock. The proceeds will be utilized to purchase outstanding Class A partnership units and Class B common stock from non-employee holders, with PWP not retaining any funds from the offering. JMP Securities LLC is the underwriter for the offering. A registration statement has been filed with the SEC but is not yet effective.

Positive

• The offering aims to enhance ownership structure by purchasing outstanding shares and partnership units.

Negative

• No proceeds will be retained by PWP, which may limit future capital for growth.

NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Company” or “PWP”) (Nasdaq:PWP), a leading global independent advisory firm, today announced that it has commenced a public offering of 3,502,033 shares of Class A common stock (the “Offering”). The proceeds from the Offering will be used by the Company to purchase from certain non-employee holders (i) outstanding PWP Holdings LP Class A partnership units and (ii) outstanding shares of the Company’s Class B common stock. PWP will not retain any proceeds from the Offering.

JMP Securities LLC is acting as the underwriter for the Offering. The Offering will be made only by means of a prospectus. A copy of the final prospectus related to the Offering may be obtained, when available, from JMP Securities LLC, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8985, or by email at syndicate@jmpsecurities.com.

A registration statement on Form S-1, including a prospectus which is preliminary and subject to completion, relating to the Class A common stock has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. Copies of the registration statement can be accessed through the U.S. Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PWP

Perella Weinberg Partners is a leading global independent advisory firm, providing strategic and financial advice to a broad client base, including corporations, institutions, governments, sovereign wealth funds and private equity investors. The firm offers a wide range of advisory services to clients in the most active industry sectors and global markets. With approximately 600 employees, PWP currently maintains offices in New York, Houston, London, Calgary, Chicago, Denver, Los Angeles, Paris, Munich, and San Francisco. The financial information of PWP herein refers to the business operations of PWP Holdings LP and Subsidiaries.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, statements about the Offering. You can identify these forward-looking statements by the use of words such as “estimates,” “projected,” “expects,” “estimated,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A further list and description of these risks, uncertainties and other factors can be found in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company's Registration Statement on Form S-1, as amended. This filing and subsequent filings are available online at www.sec.gov or on request from the Company.

Contacts 
For Perella Weinberg Partners Investor Relations: investors@pwpartners.com
For Perella Weinberg Partners Media: media@pwpartners.com

FAQ

What is the purpose of the public offering by PWP?

The offering aims to purchase outstanding Class A partnership units and Class B common stock from non-employee holders.

How many shares is PWP offering in this public offering?

PWP is offering 3,502,033 shares of Class A common stock.

Who is the underwriter for PWP's offering?

JMP Securities LLC is acting as the underwriter for the offering.

When will the offering proceeds be available to PWP?

PWP will not retain any proceeds from the offering as they will be used for purchasing shares from non-employee holders.

What filing has PWP made in relation to the offering?

PWP has filed a registration statement on Form S-1 with the SEC, but it has not yet become effective.