113  0 Kommentare Perella Weinberg Partners Commences Public Offering of Class A Common Stock

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Perella Weinberg Partners (the “Company” or “PWP”) (Nasdaq: PWP), a leading global independent advisory firm, today announced that it has commenced a public offering of 4,500,000 shares of Class A common stock (the “Offering”). In addition, the Company expects to grant the underwriter a 30-day option to purchase an additional 675,000 shares of its Class A common stock in the Offering. The proposed Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The Company intends to contribute the net proceeds from the Offering to PWP Holdings LP (“PWP OpCo”) in exchange for 4,500,000 PWP OpCo Class A partnership units (5,175,000 PWP OpCo Class A partnership units if the underwriter exercises its option in full). PWP OpCo intends to use the net proceeds received from the Company, together, to the extent necessary, with any cash on hand, for (i) the conversion of certain Partnership Class A-3 Common Units (“ACUs”) at PWP OpCo held by limited partners into cash in an amount expected to cover the estimated tax liabilities (as determined in the Company’s discretion and subject to available cash for this purpose) associated with the vesting of such limited partners’ ACUs instead of such ACUs vesting into PWP OpCo Class A partnership units, subject to the required board of directors, audit committee and other approvals, (ii) the purchase from certain holders of (A) outstanding PWP OpCo Class A partnership units and (B) outstanding shares of the Company’s Class B common stock in connection with the quarterly exchange for the second quarter of 2024, and (iii) general corporate purposes (provided that (i) and (ii) are subject to completion of the contemplated merger of PWP AdCo Professionals LP with and into PWP OpCo). These expected uses of net proceeds from the Offering represent the Company’s present intentions based on its current plans and business conditions, which could change in the future as its plans and business conditions evolve.

Citizens JMP is acting as the sole underwriter for the Offering.

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The Offering is being made only by means of a previously filed effective shelf registration statement on Form S-3 (File No. 333-266051), including a base prospectus, initially filed with the Securities and Exchange Commission (“SEC”) on July 7, 2022 and declared effective by the SEC on July 19, 2022, and a prospectus supplement. The preliminary prospectus supplement and accompanying base prospectus relating to the Offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering may also be obtained by sending a request to: Citizens JMP Securities, LLC, 450 Park Avenue, 5th Floor, New York, NY 10022, or by calling (415) 835-8985, or by email at syndicate@jmpsecurities.com.