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Hamilton Lane Announces Public Offering of Class A Common Stock

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Hamilton Lane Incorporated (HLNE) initiates a public offering of 1,922,322 shares of Class A common stock to settle cash exchanges, with Morgan Stanley as the underwriter. The offering is made under an effective shelf registration statement, with proceeds to be used for specific purposes.
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The commencement of an underwritten public offering of Class A common stock by Hamilton Lane Incorporated represents a significant capital market activity that can influence the company's capital structure and liquidity. It is essential to evaluate the potential impact on the company's financial leverage and shareholder dilution. The decision to settle cash exchanges of membership units could indicate a strategic move to simplify the ownership structure or provide liquidity to certain members, which might be seen as a positive step towards enhancing corporate governance.

Moreover, the involvement of a prominent financial institution like Morgan Stanley as the book-running manager and underwriter adds credibility to the offering. However, investors should consider the dilutive effect of the new shares on earnings per share (EPS) and the potential impact on the stock price. The market's reception of the offering could be indicative of investor confidence in Hamilton Lane's growth prospects and the perceived value of its stock.

Public offerings are a barometer for market sentiment and demand for a company's stock. The size and pricing of the offering could provide insights into the current valuation levels in the private markets asset management sector. It is also indicative of Hamilton Lane's market positioning and the competitive landscape. The timing of the offering might correlate with market conditions and investor appetite for risk, particularly in the asset management industry, which is sensitive to market fluctuations and economic cycles.

Analyzing peer offerings and the historical performance of similar events can shed light on the expected behavior of Hamilton Lane's stock post-offering. It is also important to consider the broader economic environment, including interest rate trends and regulatory changes, which could affect the attractiveness of such investments.

The offering is conducted under an effective shelf registration statement, which allows for the quick sale of securities when market conditions are favorable. The legal framework surrounding this process, including the SEC's regulations, aims to protect investors by ensuring transparency and the availability of essential information. Prospective investors should review the prospectus and related prospectus supplement to understand the risks and terms of the offering.

It is crucial to note that the offering's legality is contingent upon adherence to state and federal securities laws and the disclaimer regarding the sale in certain jurisdictions underscores the complex regulatory landscape companies must navigate in such transactions. Compliance with these regulations is paramount to avoid legal repercussions and maintain investor trust.

CONSHOHOCKEN, Pa., March 4, 2024 /PRNewswire/ -- Private markets asset management firm Hamilton Lane Incorporated (Nasdaq: HLNE) ("Hamilton Lane") today announced that it has commenced an underwritten public offering of 1,922,322 shares of Class A common stock, in the aggregate, to be sold by Hamilton Lane and a selling stockholder, subject to market and other 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 & Co. LLC 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. 333-258567), 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 nearly 700 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has approximately $903 billion in assets under management and supervision, composed of $120 billion in discretionary assets and nearly $783 billion in non-discretionary assets, as of December 31, 2023. 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 views with respect 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, 2023 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.

Cision View original content:https://www.prnewswire.com/news-releases/hamilton-lane-announces-public-offering-of-class-a-common-stock-302079017.html

SOURCE Hamilton Lane

FAQ

What is the purpose of Hamilton Lane's (HLNE) public offering?

Hamilton Lane (HLNE) is initiating a public offering of 1,922,322 shares of Class A common stock to settle cash exchanges of membership units held by certain members of Hamilton Lane Advisors, L.L.C.

Who is acting as the underwriter for Hamilton Lane's (HLNE) offering?

Morgan Stanley & Co. LLC is serving as the book-running manager and underwriter for Hamilton Lane's (HLNE) public offering.

Where can interested parties obtain the necessary documents related to Hamilton Lane's (HLNE) offering?

Interested parties can access the prospectus and related documents for Hamilton Lane's (HLNE) offering for free by visiting the SEC's website at http://www.sec.gov or contacting Morgan Stanley & Co. LLC at the provided address.

Does Hamilton Lane (HLNE) expect to receive proceeds from the sale of shares by the selling stockholder?

No, Hamilton Lane (HLNE) will not receive any proceeds from the sale of shares by the selling stockholder in the public offering.

Is the public offering subject to any specific conditions?

The public offering of Hamilton Lane (HLNE) shares is subject to market and other conditions, as outlined in the press release.

Hamilton Lane Incorporated

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About HLNE

hamilton lane is an independent alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. the firm has been dedicated to private markets investing for more than two decades and currently has 250 employees operating in offices throughout the u.s., london, hong kong, rio de janeiro, tel aviv and tokyo. with over $239 billion in total assets under management and supervision*, hamilton lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. the firm has been named an inc. 5000 fastest-growing company and a “best places to work in money management by pensions & investments. for more information please visit www.hamiltonlane.com. * as of september 30, 2015