LPL Investment (LPLA) Prices 14.5M Secondary Offering at $34.50/Share
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Price: $38.65 --0%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 5.2%
Revenue Growth %: +8.1%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 5.2%
Revenue Growth %: +8.1%
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LPL Investment Holdings Inc. (Nasdaq: LPLA) has priced its secondary offering of 14,500,000 shares of its common stock by investment funds associated with Hellman & Friedman LLC and TPG Capital, L.P. at a price to the public of $34.50 per share.
The underwriters have a 30-day option to purchase up to an additional 1,450,000 shares from the Selling Stockholders. The Company itself is not selling any shares in this offering. Subject to customary conditions, the offering is expected to close on or about May 7, 2012. Morgan Stanley, BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are acting as joint book-running managers for the offering. Citigroup, SunTrust Robinson Humphrey, Wells Fargo Securities, Sanford C. Bernstein, William Blair, Blaylock Robert Van, LLC, Drexel Hamilton, Keefe, Bruyette & Woods, Macquarie Capital and Sandler O'Neill + Partners, L.P. are acting as co-managers.
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The underwriters have a 30-day option to purchase up to an additional 1,450,000 shares from the Selling Stockholders. The Company itself is not selling any shares in this offering. Subject to customary conditions, the offering is expected to close on or about May 7, 2012. Morgan Stanley, BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are acting as joint book-running managers for the offering. Citigroup, SunTrust Robinson Humphrey, Wells Fargo Securities, Sanford C. Bernstein, William Blair, Blaylock Robert Van, LLC, Drexel Hamilton, Keefe, Bruyette & Woods, Macquarie Capital and Sandler O'Neill + Partners, L.P. are acting as co-managers.
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Keefe, Bruyette & Woods, William Blair, JPMorgan, Citi, Morgan Stanley, Merrill Lynch, Bank of America, Sanford C. Bernstein, Sandler O'Neill, Hellman & Friedman LLC, SunTrust Robinson Humphrey, Wells Fargo
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