Perella Weinberg Partners Stock Price, News & Analysis

Perella Weinberg Partners (PWP) has completed its exchange offer and consent solicitation for outstanding warrants. Holders of the warrants received 0.20 shares of Class A common stock for each warrant tendered, resulting in the issuance of 1,493,688 shares. The company plans to exchange all remaining untendered warrants at a ratio of 0.18 shares per warrant on September 7, 2022. Following this, no public or private placement warrants will remain outstanding. Citigroup acted as the Dealer Manager for the offer.

Perella Weinberg Partners (PWP) has announced the expiration of its exchange offer and consent solicitation for its warrants, which ended on August 18, 2022. Approximately 96.39% of the Public Warrants and 47.68% of the Private Placement Warrants were validly tendered. In exchange for each warrant tendered, holders will receive 0.20 shares of Class A Common Stock. The company also secured approval for a warrant amendment, allowing for the exchange of remaining untendered warrants at a ratio of 0.18 shares of Class A Common Stock. Settlement is expected by August 23, 2022.

Perella Weinberg Partners (PWP) announced that the SEC has declared effective its Form S-4 registration statement for the exchange offer regarding its Warrants. The Offer will expire on August 18, 2022. In exchange for each Warrant, holders will receive 0.20 shares of Class A Common Stock, with up to 1,573,995 shares available for exchange. A simultaneous consent solicitation aims to amend the warrant agreement, requiring 65% approval from Public Warrants holders. Currently, 45.9% of these holders have agreed to participate.

Perella Weinberg Partners (PWP) reported second quarter 2022 revenues of $151.1 million, down 41% from $255.5 million in Q2 2021. Adjusted net income was $23.1 million compared to $61.7 million a year earlier. First half revenues also fell 29% to $303.0 million. GAAP net income for Q2 was $2.7 million, well below $9.0 million last year. The decline reflects lower M&A activity. With no debt and a strong balance sheet, PWP repurchased $51.7 million in shares and declared a quarterly dividend of $0.07 per share. CEO Peter Weinberg emphasized a focus on strategic growth and talent acquisition.

Perella Weinberg Partners (PWP) has launched an exchange offer and consent solicitation for its Public and Private Placement Warrants. The aim is to simplify its capital structure and reduce potential dilutive impacts. Warrantholders can exchange each warrant for 0.20 shares of Class A Common Stock, with a maximum of 1,573,995 shares available. Additionally, a Warrant Amendment seeks consent to convert outstanding warrants into 0.18 shares. The offer, expiring on August 18, 2022, requires at least 65% consent from holders. Citigroup serves as dealer manager for the offer.

Perella Weinberg Partners (NASDAQ:PWP) announced it will release its Q2 2022 financial results on August 4, 2022, prior to market opening. A conference call and webcast will follow at 9:00 AM ET the same day to discuss these results. Interested parties can listen in via PWP's Investor Relations website. For further engagement, the call will be accessible through various dial-in numbers, with a replay available until August 11, 2022.

PWP is a global advisory firm offering strategic and financial advice to a diverse client base, employing around 600 professionals across multiple global offices.

Perella Weinberg Partners (PWP) appoints R.A. McDonough as Partner, establishing its Power & Utilities practice and enhancing its Energy Transition initiatives. Based in Los Angeles, McDonough will provide strategic financial advice and lead PWP's North American efforts in this sector. He brings over 30 years of M&A and advisory experience, previously serving as Managing Director at J.P. Morgan. CEO Peter Weinberg emphasized the importance of McDonough's expertise to accelerate growth in the Power and Utilities market, which is seen as a significant opportunity for PWP.

Perella Weinberg Partners (Nasdaq: PWP) announced the appointment of Stéphane Richard as a Partner in its Paris office, effective June 1, 2022. Mr. Richard has extensive experience in telecommunications, having served as CEO of Orange for over a decade. His strong relationships within the French business community and extensive background in financial and operational roles will bolster PWP's advisory capabilities in France and Europe. The firm has seen growth since opening its Paris office in 2018, focusing on delivering strategic advice to a range of clients.

Perella Weinberg Partners (PWP) reported Q1 2022 revenues of $151.9 million, down 11% from $169.8 million in Q1 2021. Adjusted net income was $20.5 million, with a GAAP net income of $1.1 million. The firm maintained a strong balance sheet with no debt and declared a quarterly dividend of $0.07 per share. PWP added four advisory partners during the year to support growth, despite a decline in U.S. M&A activity affecting overall revenues. The CEO highlighted that the firm's growth strategy remains intact amid market volatility.