Hamilton Lane slips after $78 million stock offering

Hamilton Lane Incorporated

03/09/2025 17:33

** Shares of private markets asset management firm Hamilton Lane HLNE.O fall 4.5% to $144.07

** Late Tuesday, HLNE and a selling stockholder sold 528,705 shares for gross proceeds of $77.5 million

** Implied offer price of $146.58 represents a 2.7% discount to stock's last close

** BofA Securities was book-running manager for offering

** HLNE will have 55.7 million outstanding shares after the offering, according to prospectus

** Five of six brokerages rate the stock "hold", one rates "sell"; with a median PT of $168, according to data compiled by LSEG

** As of last close, HLNE stock up ~2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))