Hamilton Lane Alliance Holdings I, Inc. Announces Closing of Initial Public Offering and Full Exercise of Overallotment Optio...
January 15 2021 - 07:39PM
Hamilton Lane Alliance Holdings I, Inc. (the “Company”) today
announced the closing of its upsized initial public offering of
27,600,000 units, which includes the exercise in full by the
underwriters of their overallotment option to purchase up to an
additional 3,600,000 units. Total gross proceeds from the offering
were $276 million before deducting underwriting discounts and
commissions and other offering expenses payable by the Company. The
units began trading on Nasdaq on January 13, 2021 under the ticker
symbol “HLAHU.” Each unit consists of one share of the Company’s
Class A common stock and one-third of one redeemable warrant. Each
whole warrant entitles the holder thereof to purchase one share of
Class A common stock at a price of $11.50 per share. Once the
securities comprising the units begin separate trading, the Company
expects that its Class A common stock and warrants will be listed
on Nasdaq under the symbols “HLAH” and “HLAHW,” respectively.
The Company was formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses. Although the Company’s efforts to identify a
prospective business combination opportunity will not be limited to
a particular industry, it intends to identify and consummate an
initial business combination that it believes will generate
attractive long-term returns for its shareholders. The Company
intends to avoid companies in highly cyclical sectors such as
upstream and midstream energy, commodities or real estate. The
Company’s sponsor is an affiliate of Hamilton Lane Advisors,
L.L.C., the managing member of which is Hamilton Lane Incorporated
(Nasdaq: HLNE), a leading private markets investment management
firm.
J.P. Morgan and Morgan Stanley acted as joint book-running
managers for the offering.
The public offering was made only by means of a prospectus. A
copy of the final prospectus relating to the offering may be
obtained from J.P. Morgan Securities LLC c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717,
telephone: 1-866-803-9204, or by emailing at
prospectus-eq_fi@jpmchase.com and Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, Second Floor,
New York, New York 10014.
A registration statement relating to the securities, as well as
a related registration statement on Form S-1MEF filed with the
Securities and Exchange Commission (the “SEC”) pursuant to Rule
462(b) under the Securities Act of 1933, as amended, became
effective on January 12, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
securities, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
anticipated separate trading of the securities comprising the units
and the Company’s plans with respect to the target industry for a
potential business combination. No assurance can be given that the
Company will ultimately complete a business combination
transaction. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus for the Company’s
offering filed with the SEC. Copies of these documents are
available on the SEC’s website, at www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact:Hamilton Lane Alliance Holdings I,
Inc.+1-610-617-6026hlalliance@hamiltonlane.com
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