OM Asset Management plc (NYSE: OMAM) announced today the pricing of a
public offering of 17.3 million of its ordinary shares at a public
offering price of $14.55 per share. The public offering is expected to
close on May 19, 2017.
The ordinary shares are being offered by Old Mutual plc, through its
wholly owned subsidiary, OM Group (UK) Limited. The underwriter also has
a 30-day option to purchase up to an additional 2.595 million ordinary
shares at the public offering price, less the underwriting discount.
OMAM will not sell any shares in the offering and will not receive any
proceeds from the sale of the shares.
In addition, the previously announced private repurchase transaction, in
which OMAM expects to repurchase 5 million ordinary shares directly from
OM Group (UK) Limited was also priced at $14.55 per share. The closing
of the repurchase transaction is subject to various conditions,
including the closing of the public offering.
Morgan Stanley & Co. LLC is acting as sole bookrunning manager for the
The public offering is being made pursuant to an effective shelf
registration statement on file with the U.S. Securities and Exchange
Commission (the “SEC”). A preliminary prospectus supplement relating to
the public offering, subject to completion, has been filed with the SEC,
and a final prospectus supplement relating to the public offering will
be filed with the SEC. Interested parties should read the prospectus
included in the registration statement and the prospectus supplement for
the public offering, and other documents that OMAM has filed with the
SEC for more complete information about OMAM and the public offering.
Copies of the preliminary prospectus supplement relating to the public
offering may be obtained, when available, from: Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor,
New York, NY 10014.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
OMAM is a global, multi-boutique asset management company with
approximately $249.7 billion of assets under management as of March 31,
2017. Its diverse Affiliates offer leading, alpha generating investment
products to investors around the world. OMAM’s partnership approach,
which includes equity ownership at the Affiliate level and a profit
sharing relationship between OMAM and its Affiliates, aligns the
interests of the Company and its Affiliates to work collaboratively in
accelerating their growth. OMAM’s business model combines the investment
talent, entrepreneurialism, focus and creativity of leading asset
management boutiques with the resources and capabilities of a larger
This press release includes forward-looking statements, as that term is
used in the Private Securities Litigation Reform Act of 1995, including
information relating to the proposed public offering and the proposed
Repurchase Transaction. The words or phrases ‘‘will likely result,’’
‘‘are expected to,’’ ‘‘will continue,’’ ‘‘is anticipated,’’ ‘‘can be,’’
‘‘may be,’’ ‘‘aim to,’’ ‘‘may affect,’’ ‘‘may depend,’’ ‘‘intends,’’
‘‘expects,’’ ‘‘believes,’’ ‘‘estimate,’’ ‘‘project,’’ and other similar
expressions are intended to identify such forward-looking statements.
Such statements are subject to various known and unknown risks and
uncertainties and readers should be cautioned that any forward-looking
information provided by or on behalf of the Company is not a guarantee
of future performance.
Actual results may differ materially from those in forward-looking
information as a result of various factors, some of which are beyond the
Company’s control, including but not limited to those discussed above
and elsewhere in this press release, in the Company’s most recent Annual
Report on Form 10-K, filed with the Securities and Exchange Commission
on February 22, 2017, the Company’s Current Report on Form 8-K filed
with the Securities and Exchange Commission on May 15, 2017 and the
Company’s preliminary prospectus supplement filed with the Securities
and Exchange Commission on May 15, 2017. Due to such risks and
uncertainties and other factors, the Company cautions each person
receiving such forward-looking information not to place undue reliance
on such statements. Further, such forward-looking statements speak only
as of the date of this press release and the Company undertakes no
obligations to update any forward looking statement to reflect events or
circumstances after the date of this press release or to reflect the
occurrence of unanticipated events.
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