An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
TPG has priced its initial public offering at $29.50 per share, offering a total of 33,900,000 shares, including 28,310,194 from the company and 5,589,806 from an existing investor. The IPO will commence trading on NASDAQ under the symbol 'TPG' on January 13, 2022, with a closing date expected on January 18, 2022. Proceeds will fund partnership interests and cover offering costs, aimed at enhancing TPG's business operations and potential market expansion. No proceeds will be received from shares sold by the existing investor.
Positive
Proceeds of the offering will fund 40% for purchasing partnership interests, potentially enhancing operational stability and growth.
The IPO allows TPG to expand its business and geographical reach through additional funding.
Negative
Existing shareholders may face dilution due to the share offering.
Market reaction is uncertain, as initial public offerings can fluctuate in price post-launch.
SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--
TPG, a leading global alternative asset management firm, today announced the pricing of its initial public offering of 33,900,000 shares of its Class A common stock at a price of $29.50 per share. Of the offered shares, 28,310,194 shares are being offered by the Company and 5,589,806 shares are being offered by an existing strategic investor pursuant to a registration statement filed on Form S-1 with the Securities and Exchange Commission (the “SEC”). The underwriters will have a 30-day option to purchase an additional 3,390,000 shares of common stock, consisting of 1,775,410 shares from the Company and 1,614,590 shares from the existing strategic investor.
The shares are expected to begin trading on NASDAQ on January 13, 2022, under the symbol “TPG.” The offering is expected to close on January 18, 2022, subject to customary closing conditions.
TPG intends to use approximately 40% of the net proceeds to purchase partnership interests in the TPG operating entity from other existing strategic investors, and the remaining net proceeds it receives to pay offering and reorganization expenses and for general corporate purposes, which may include facilitating the growth of TPG’s existing business and/or expanding into complementary new lines of business or geographic markets. TPG will not receive any proceeds from the sale of shares by the existing strategic investor.
J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley and TPG Capital BD, LLC are acting as joint lead book-running managers for the proposed offering. BofA Securities, Citigroup, Deutsche Bank Securities, Evercore ISI, UBS Investment Bank, Wells Fargo Securities, BMO Capital Markets and Barclays are also acting as joint book-running managers, and Mizuho Securities, Keefe Bruyette & Woods, a Stifel Company, MUFG, SMBC Nikko, AmeriVet Securities, Blaylock Van, LLC, C.L. King & Associates, Drexel Hamilton, R. Seelaus & Co., LLC, Ramirez & Co., Inc., and Siebert Williams Shank are acting as co-managers for the offering.
A registration statement relating to the sale of these securities was declared effective by the Securities and Exchange Commission on January 12, 2022. This offering is made only by means of a prospectus. Once available, a copy of the final prospectus related to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, or via email: prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 any such state or jurisdiction.
About TPG
TPG is a leading global alternative asset management firm founded in San Francisco in 1992 with $109 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
What is the price of TPG's initial public offering?
TPG's initial public offering is priced at $29.50 per share.
When will TPG start trading on NASDAQ?
TPG is expected to begin trading on NASDAQ on January 13, 2022.
What will TPG do with the proceeds from the IPO?
Approximately 40% of the proceeds will be used to purchase partnership interests, while the rest will cover offering expenses and support corporate growth.
Who are the lead underwriters for TPG's IPO?
J.P. Morgan, Goldman Sachs, and Morgan Stanley are the joint lead book-running managers for TPG's IPO.
When will TPG's IPO close?
The IPO is expected to close on January 18, 2022, subject to customary closing conditions.
