Moelis & Co Prices Public Offering At $31.75/shr

(RTTNews) - Moelis & Co.(MC), an independent investment bank, announced the pricing of a public offering by the Company and selling stockholders of 5.50 million shares of Class A common stock at a price to the public of $31.75 per share.

The company and certain of the selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of Class A common stock. The offering is expected to close on November 24, 2014 subject to satisfaction of customary closing conditions.

The shares are being offered by selling stockholders, including certain of the Company's pre-IPO equity holders and Managing Directors, other than 1.535 million shares being offered by the Company, the proceeds of which will be used to repurchase the same number of shares or other equity interests from certain of the Company's Managing Directors and employees.

Moelis & Company noted that it will not retain any proceeds from the sale of shares of Class A common stock. The Company is conducting the offering to facilitate organized liquidity in its Class A common stock and to increase the public float of its Class A common stock.