August 01, 2018
New York, August 01, 2018
Moelis & Company (the “Company”) (NYSE: MC), a leading global independent investment bank, today announced the pricing of the previously announced public offering of 5,000,000 shares of its Class A common stock, which is expected to yield gross proceeds of approximately $302 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on August 6, 2018 subject to customary closing conditions.
The proceeds of the sale of 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. Accordingly, 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 as a result of the offering. 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.
The underwriters propose to offer the shares of Class A common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices, subject to the right to reject any order in whole or in part.
J.P. Morgan and BofA Merrill Lynch are acting as joint book-running managers for the offering. The offering is being made pursuant to an effective shelf registration statement filed by the Company with the U.S. Securities and Exchange Commission on November 24, 2017, prospectus and prospectus supplement filed by the Company. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204; or BofA Merrill Lynch, NC1-004-03-43, Attention: Prospectus Department, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 or e-mail [email protected].
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 from 19 geographic locations 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 Report 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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