BUZZ-Hamilton Lane falls after $252 million stock offering

Shares of private markets asset management firm Hamilton Lane HLNE.O slide as much as 10.1%; last down 5.2% at $157.80

HLNE late Monday priced stock offering of ~1.6 million shares for gross proceeds of $252 million

That implies an offer price of $160.25 per share, which represents a 3.7% discount to HLNE's last close

Prior to the offering, HLNE had 55.4 million outstanding shares, according to a regulatory filing, giving it a $9.22 billion market capitalization as of last close

Morgan Stanley was the underwriter for the offering

HLNE stock jumped 30.5% in 2024