StepStone Announces Pricing of Secondary Offering
March 18 2021 - 8:16PM
StepStone Group Inc. (“StepStone”) today announced the pricing of
the previously announced underwritten secondary offering by certain
of its stockholders (the “Selling Stockholders”) of 8,000,000
shares of StepStone’s Class A common stock, at a price of $29.50
per share (before underwriting discounts and commissions) (the
“Offering”). The Selling Stockholders have also granted the
underwriters a 30-day option to purchase up to an additional
1,200,000 shares of Class A common stock. The Selling Stockholders
will receive all of the net proceeds from the Offering. StepStone
is not offering any shares of its Class A common stock in the
Offering and will not receive any proceeds from the Offering,
including from any exercise by the underwriters of their option to
purchase additional shares. The Offering is expected to close on
March 23, 2021, subject to the satisfaction of customary closing
conditions.
J.P. Morgan, Goldman Sachs & Co. LLC and
Morgan Stanley are acting as joint book-running managers for the
Offering.
A registration statement relating to these
securities was filed with and has been declared effective by the
U.S. Securities and Exchange Commission. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy nor will there be any sale of any of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration and qualification under
the securities laws of such state or jurisdiction.
The Offering may be made only by means of a
prospectus. Copies of the final prospectus related to the Offering
may be obtained, when available, from:
J.P. Morgan Securities LLCc/o Broadridge Financial Solutions1155
Long Island AvenueEdgewood, New York 11717Attn: Prospectus
GroupTelephone: (866) 803-9204
Goldman Sachs & Co. LLC200 West StreetNew York, NY
10282Attn: Prospectus DepartmentTelephone: (866) 471-2526
Morgan Stanley & Co. LLC180 Varick Street, Second FloorNew
York, New York 10014Attn: Prospectus Department
About StepStone
StepStone Group Inc. (Nasdaq: STEP) is a global
private markets investment firm focused on providing customized
investment solutions and advisory and data services to its clients.
As of December 31, 2020, StepStone oversaw approximately $333
billion of private markets allocations, including $80 billion of
assets under management. StepStone’s clients include some of the
world’s largest public and private defined benefit and defined
contribution pension funds, sovereign wealth funds and insurance
companies, as well as prominent endowments, foundations, family
offices and private wealth clients, which include high-net-worth
and mass affluent individuals. StepStone partners with its clients
to develop and build private markets portfolios designed to meet
their specific objectives across the private equity,
infrastructure, private debt and real estate asset classes.
Forward-Looking Statements
Some of the statements in this release may constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking. Words such as “anticipate,” “believe,” “continue,”
“estimate,” “expect,” “future,” “intend,” “may,” “plan” and “will”
and similar expressions identify forward-looking statements.
Forward-looking statements, including statements regarding the
consummation of the Offering and the satisfaction of customary
closing conditions with respect to the Offering, reflect
management’s current plans, estimates and expectations and are
inherently uncertain. The inclusion of any forward-looking
information in this release should not be regarded as a
representation that the future plans, estimates or expectations
contemplated will be achieved. Forward-looking statements are
subject to various risks, uncertainties and assumptions. Important
factors that could cause actual results to differ materially from
those in forward-looking statements include, but are not limited
to, global and domestic market and business conditions, successful
execution of business and growth strategies and regulatory factors
relevant to our business, as well as assumptions relating to our
operations, financial results, financial condition, business
prospects, growth strategy and liquidity and the risks and
uncertainties described in greater detail under “Risk Factors”
included in our prospectus dated March 16, 2021, filed with the
U.S. Securities and Exchange Commission on March 16, 2021, as such
factors may be updated from time to time. We undertake no
obligation to revise or update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by law.
Contacts
Shareholder
Relations:shareholders@stepstonegroup.com1-212-351-6106
Media:Brian Ruby / Chris Gillick,
ICRStepStonePR@icrinc.com1-203-682-8268
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