Hamilton Lane Announces Pricing of Public Offering of Class A Common Stock

Rhea-AI Summary

Hamilton Lane (Nasdaq: HLNE) has announced the pricing of a public offering of 1,572,536 shares of Class A common stock, with expected gross proceeds of approximately $252 million. The offering, which includes shares from both Hamilton Lane and a selling stockholder, is expected to close on February 12, 2025.

The company plans to use its portion of the proceeds to settle cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. held by certain members. Hamilton Lane will not receive any proceeds from the selling stockholder's share sale. Morgan Stanley is serving as the book-running manager and underwriter for the offering, which is being conducted under an effective shelf registration statement filed with the SEC.

Positive

• Substantial capital raise of $252 million through public offering
• Strategic restructuring of membership units through cash settlement

Negative

• Potential dilution of existing shareholders due to new share issuance
• No proceeds from selling stockholder portion will benefit the company

CONSHOHOCKEN, Pa., Feb. 10, 2025 /PRNewswire/ -- Private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) ("Hamilton Lane") today announced the pricing of an underwritten public offering by Hamilton Lane and a selling stockholder of 1,572,536 shares of Class A common stock, in the aggregate, for gross proceeds of approximately $252 million. The offering is expected to close on February 12, 2025, subject to customary closing conditions.

Hamilton Lane intends to use the proceeds from the sale of its shares to settle in cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. held by certain of its members. Hamilton Lane will not receive any proceeds from the sale of shares by the selling stockholder.

Morgan Stanley is acting as book-running manager and underwriter for this offering.

The offering is being made pursuant to an effective shelf registration statement (Registration No. 333-283233), including a prospectus and related prospectus supplement, filed by Hamilton Lane with the Securities and Exchange Commission ("SEC"). These documents may be obtained for free by visiting the SEC's website at http://www.sec.gov or by contacting:

Morgan Stanley & Co. LLC

Attention: Prospectus Department

180 Varick Street, 2nd Floor

New York, New York 10014

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 such state or jurisdiction.

About Hamilton Lane

Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 740 professionals worldwide operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $956 billion in assets under management and supervision, composed of nearly $135 billion in discretionary assets and more than $821 billion in non-discretionary assets, as of December 31, 2024. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies.

Forward-Looking Statements

Some of the statements in this release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as "will," "expect," "believe," "estimate," "continue," "anticipate," "intend," "plan" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management's current expectations and projections relating to, among other things, the anticipated amount and terms of the offering and whether the offering will be completed. All forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different. For more information regarding the risks and uncertainties that we face, you should refer to the "Risk Factors" detailed in the prospectus and prospectus supplement related to the offering, as well as those in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.

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SOURCE Hamilton Lane

FAQ

How many shares is Hamilton Lane (HLNE) offering in its February 2025 public offering?

Hamilton Lane and a selling stockholder are offering 1,572,536 shares of Class A common stock in total.

What is the expected gross proceeds from HLNE's February 2025 stock offering?

The public offering is expected to generate gross proceeds of approximately $252 million.

When is Hamilton Lane's (HLNE) February 2025 public offering expected to close?

The public offering is expected to close on February 12, 2025, subject to customary closing conditions.

How will Hamilton Lane (HLNE) use the proceeds from its 2025 stock offering?

Hamilton Lane will use its proceeds to settle cash exchanges of membership units in Hamilton Lane Advisors, L.L.C. held by certain members.

Who is the underwriter for Hamilton Lane's (HLNE) February 2025 public offering?

Morgan Stanley is acting as the book-running manager and underwriter for the offering.