Hamilton Lane slips after launching stock offering

Hamilton Lane Incorporated

02/09/2025 22:16

** Shares of private markets asset management firm Hamilton Lane HLNE.O fall 2.2% to $147.40 in extended trading

** HLNE announces a stock offering of 528,705 shares to be sold by the company and a selling stockholder

** Stock closed down 2.4% at $150.65 on Tuesday

** HLNE offering 378,705 shares, while the selling stockholder is putting up 150,000 shares

** BofA Securities is book-running manager for offering

** HLNE plans to use proceeds to settle cash exchanges of membership units in Hamilton Lane Advisors

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

** Five of 6 brokerages rate the stock "hold", one rates "sell"; with a median PT $168, according to data compiled by LSEG

** As of last close, HLNE stock up 1.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))