Moelis begins public offering of Class A common stock
26/07/2017
Moelis & Company, a leading global independent investment bank, on Tuesday announced that it has commenced a public offering of 6,000,000 shares of Class A common stock at a public offering price of USD 42 per share, which is expected to yield gross proceeds of approximately USD 252.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on July 28, 2017 subject to customary closing conditions, it said. “The proceeds of the shares of Class A common stock being offered will be used to repurchase the same number of shares of Class A common stock or partnership or other equity interests that are exchangeable or convertible into shares of Class A common stock from certain of the Company’s Managing Directors and former employees; as a result, the number of fully diluted shares of Class A common stock outstanding, which includes all outstanding shares of Class A common stock and partnership and other equity interests exchangeable into shares of Class A common stock, will not increase,” Moelis & Company said in a press release. Moelis & Company will not retain any proceeds from the sale of shares of Class A common stock. The Company is conducting the offering to facilitate organized liquidity in its Class A common stock and to increase the public float of its Class A common stock. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.
26/07/2017
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Moelis & Company, a leading global independent investment bank, on Tuesday announced that it has commenced a public offering of 6,000,000 shares of Class A common stock at a public offering price of USD 42 per share, which is expected to yield gross proceeds of approximately USD 252.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on July 28, 2017 subject to customary closing conditions, it said. “The proceeds of the shares of Class A common stock being offered will be used to repurchase the same number of shares of Class A common stock or partnership or other equity interests that are exchangeable or convertible into shares of Class A common stock from certain of the Company’s Managing Directors and former employees; as a result, the number of fully diluted shares of Class A common stock outstanding, which includes all outstanding shares of Class A common stock and partnership and other equity interests exchangeable into shares of Class A common stock, will not increase,” Moelis & Company said in a press release. Moelis & Company will not retain any proceeds from the sale of shares of Class A common stock. The Company is conducting the offering to facilitate organized liquidity in its Class A common stock and to increase the public float of its Class A common stock. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.
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