Perella Weinberg Partners Prices Public Offering of Class A Common Stock

Rhea-AI Summary

Perella Weinberg Partners (PWP) has announced the pricing of a public offering of 3,502,033 shares of Class A common stock at $10.75 per share. The offering is expected to close on January 21, 2022, subject to standard conditions. The proceeds will be utilized to purchase outstanding Class A partnership units and Class B common stock from non-employee holders; thus, PWP will not retain any of the proceeds. JMP Securities LLC is the underwriter for this offering.

Positive

• Intended use of funds for purchasing outstanding partnership units and shares, potentially strengthening capital structure.

Negative

• Dilution of existing shareholder equity due to the public offering.

NEW YORK, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Company” or “PWP”) (Nasdaq: PWP), a leading global independent advisory firm, today announced the pricing of its public offering of 3,502,033 shares of Class A common stock at a public offering price of $10.75 per share (the “Offering”). The Offering is expected to close on January 21, 2022, subject to customary closing conditions. 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 is being 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.

The registration statement on Form S-1, including a prospectus, relating to the Class A common stock has been declared effective by the U.S. Securities and Exchange Commission. 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 offering price of PWP's recent public offering?

The offering price of PWP's public offering is $10.75 per share.

How many shares are being offered by PWP?

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

What will PWP do with the proceeds from the offering?

PWP will use the proceeds to purchase outstanding Class A partnership units and Class B common stock from non-employee holders.

When is the expected closing date for PWP's offering?

The offering is expected to close on January 21, 2022.

Who is the underwriter for PWP's public offering?

JMP Securities LLC is acting as the underwriter for PWP's public offering.