StepStone Announces Pricing of Initial Public Offering
StepStone Group announced the pricing of its initial public offering (IPO) of 17,500,000 shares of Class A common stock at $18.00 per share. Trading is set to commence on the Nasdaq under the ticker symbol STEP on September 16, 2020. There is also a 30-day option for underwriters to purchase an additional 2,625,000 shares. The IPO is scheduled to close around September 18, 2020, pending customary closing conditions. J.P. Morgan, Goldman Sachs, and Morgan Stanley are joint book-running managers for the offering.
- Initial public offering pricing at $18.00 per share.
- Total of 17,500,000 shares being offered with a potential additional 2,625,000 shares.
- Strategic underwriters including J.P. Morgan, Goldman Sachs, and Morgan Stanley enhancing credibility.
- None.
NEW YORK, Sept. 16, 2020 (GLOBE NEWSWIRE) -- StepStone Group Inc. (“StepStone”) today announced the pricing of its initial public offering of 17,500,000 shares of its Class A common stock at a public offering price of
In addition, StepStone has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about September 18, 2020 subject to satisfaction of customary closing conditions.
J.P. Morgan, Goldman Sachs and Morgan Stanley are acting as joint book-running managers for the offering. Barclays and UBS Investment Bank are acting as passive book-runners.
A registration statement relating to these securities was filed with and has been declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of any of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.
The offering may be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from:
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Attn: Prospectus Group
Telephone: (866) 803-9204
Goldman Sachs & Co. LLC
200 West Street
New York, NY 10282
Attn: Prospectus Department
Telephone: (866) 471-2526
Morgan Stanley & Co. LLC
180 Varick Street, Second Floor
New York, New York 10014
Attn: Prospectus Department
About StepStone
StepStone is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. Its clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
Contacts
Shareholder Relations
(212) 351-6106
Media Relations
Chris Gillick, ICR
StepStonePR@icrinc.com
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