Hamilton Lane (HLNE) announced that it has commenced an underwritten public offering of 1.57M shares of Class A common stock, in the aggregate, to be sold by Hamilton Lane and a selling stockholder, subject to market and other conditions. Hamilton Lane intends to use the proceeds from the sale of its shares to settle in cash exchanges of membership units in Hamilton Lane Advisors held by certain of its members. Hamilton Lane will not receive any proceeds from the sale of shares by the selling stockholder. Morgan Stanley is acting as book-running manager and underwriter for this offering.
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