WisdomTree, Inc. - WT STOCK NEWS

WisdomTree (NYSE: WT) has announced the pricing of $300 million in convertible senior notes due 2029, with an additional $45 million option exercised by the initial purchaser. The notes, bearing a 3.25% interest rate, are convertible at $11.82 per share. WisdomTree plans to use the proceeds to repurchase $104 million of its 2028 notes, buy back 5.7 million shares of common stock, and repurchase all Series A preferred stock from ETFS Capital for $144 million. This preferred stock repurchase is expected to be 9% accretive to WisdomTree's earnings. The company anticipates a one-time loss of about $30 million on the 2028 notes repurchase.

WisdomTree (NYSE: WT) reported its monthly metrics for July 2024, highlighting record assets under management (AUM) of $111 billion and a blended fee rate of 37bps. Despite achieving record AUM, the company experienced total net outflows of $580 million, primarily due to oil trading in Europe and fixed income outflows. Notably, WisdomTree's equity product categories generated ~$200 million of net inflows in July and ~$4.1 billion year-to-date.

The AUM rollforward shows varied performance across asset classes, with emerging market equity and alternatives seeing positive flow rates, while fixed income and commodity & currency experienced significant outflows. The company's cryptocurrency offerings continued to show strong growth with a 100.4% annualized flow rate year-to-date.

WisdomTree (NYSE: WT) announced a $300 million private offering of convertible senior notes due 2029. The offering includes an option for an additional $45 million in notes. Proceeds will be used to repurchase $104 million of its 2028 notes, buy back common stock, and repurchase Series A Preferred Stock from ETFS Capital The remaining funds will support working capital and general corporate purposes. The notes can convert to cash or common stock and are redeemable from August 2026. Terms like the interest rate and conversion rate will be set upon pricing. Certain holders of the 2028 notes may engage in market activities affecting WisdomTree's stock price.

WisdomTree reported strong Q2 2024 results with record AUM of $109.7 billion, up 2.3% from Q1. The company achieved $21.8 million in net income ($27.1 million adjusted) and diluted EPS of $0.13 ($0.16 adjusted). Operating revenues increased 10.5% to $107.0 million, driven by higher average AUM and increased other revenues from European listed products. The company saw $0.3 billion in net inflows, primarily in international developed equity, fixed income, and U.S. equity products. WisdomTree's operating income margin expanded to 31.3% (35.3% adjusted), a significant improvement from both the previous quarter and year-over-year. The company declared a $0.03 quarterly dividend.

WisdomTree, Inc. (NYSE: WT), a global financial innovator, has announced that the Say platform, a stockholder Q&A platform, is now live for its upcoming second quarter 2024 earnings call. The call is scheduled for Friday, July 26, 2024, at 11:00 a.m. ET. WisdomTree emphasizes the importance of transparency with stockholders and is using Say Connect to facilitate engagement.

Verified stockholders can submit questions to management through the Say Connect platform until 9:00 a.m. ET on July 25, 2024. WisdomTree will address select questions during the live Q2 2024 earnings call webcast. The webcast link is available on WisdomTree's investor relations website.

WisdomTree (NYSE: WT), a global financial innovator, will release its Q2 2024 earnings on July 26, 2024, at 7:00 a.m. ET. The company will hold a conference call to discuss the results at 11:00 a.m. ET the same day. The call can be accessed by dialing 877-407-9210 (US) or +1 201-689-8049 (international). Participants are advised to join the call 10 minutes early. The earnings materials and webcast will be available on WisdomTree’s investor relations website, with a replay accessible shortly after the call.

WisdomTree reported strong metrics for June 2024, showcasing a robust performance across various asset classes. The company saw net inflows of $332 million for the month, bringing total assets under management (AUM) to nearly $110 billion.

The favorable mix of flows into higher fee products resulted in an average fee rate increase to 37 basis points (bps) in Q2.

U.S.-listed ETFs and offshore UCITS ETFs generated a combined $463 million in net inflows for June, accumulating over $4.2 billion year-to-date, marking an 11% annualized organic growth rate.

Despite some volatility, notably $165 million in net outflows from European Commodities & Currencies and Leveraged & Inverse products, the overall outlook remains positive.

WisdomTree Prime® also achieved significant milestones, now accessible to 79% of the U.S. population, including a recent extension to Hawaii.

WisdomTree introduces Portfolio Solutions, a comprehensive service aimed at strengthening relationships with financial advisors by offering scalable and efficient portfolio management. The service comprises three offerings: Portfolio Consultations for personalized model analysis, CIO-Managed Model Portfolios for diverse investment goals, and Shared CIO for collaborative portfolio management. As of April 26, 2024, WisdomTree's models business has $3.5 billion in AUM and collaborates with around 2,000 advisors, aiming to expand to 80,000 advisors by the end of 2024. The new Model Portfolio filter tool enhances this service by helping advisors find suitable portfolios based on various criteria.

WisdomTree (NYSE: WT) announced the preliminary results of its 2024 Annual Meeting of Stockholders.

All nine director nominees were elected: Lynn S. Blake, Anthony Bossone, Smita Conjeevaram, Rilla Delorier, Daniela Mielke, Shamla Naidoo, Win Neuger, Tonia Pankopf, and Jonathan Steinberg.

Stockholders also approved all other proposals, including say-on-pay, one-year frequency for say-on-pay, auditor ratification, and the extension of the stockholder rights plan.

Win Neuger, Chair of the Board, expressed gratitude for stockholder support, highlighting the company's strong financial track record and positive momentum.

The preliminary vote count is subject to certification by an independent inspector of election.

The final results will be filed with the SEC and available on WisdomTree's investor relations website.