January 05, 2017
New York, January 05, 2017
Moelis & Company (the “Company”) (NYSE: MC), a leading global independent investment bank, today announced the pricing of a public offering by the Company of 5,000,000 shares of Class A Common Stock at a price to the public of $32.75 per share. The Company has also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of Class A Common Stock. The offering is expected to close on January 11, 2017 subject to satisfaction of customary closing conditions.
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 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. and Morgan Stanley & Co. LLC are acting as lead joint book-running managers for the offering. Moelis & Company LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC are acting as joint book-running managers for the offering. JMP Securities LLC is acting as co-manager for the offering.
The offering is being made pursuant to an effective shelf registration statement, prospectus and prospectus supplement filed by the Company. Copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, email: [email protected], or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on December 16, 2016. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Moelis & Company
Moelis & Company is a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. The Firm assists its clients in achieving their strategic goals by offering comprehensive integrated financial advisory services across all major industry sectors. Moelis & Company’s experienced professionals advise clients on their most critical decisions, including mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The Firm serves its clients with about 650 employees based in 17 offices in North and South America, Europe, the Middle East, Asia and Australia.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, which reflect the Company’s current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. A further list and description of these risks, uncertainties and other factors can be found in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These documents and subsequent filings are available online at www.sec.gov or on request from the Company.
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