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08 February 2017

Los Angeles and New York, February 8, 2017 – Houlihan Lokey, Inc. (NYSE: HLI) (“Houlihan Lokey” or the “Company”), the global investment bank, today announced the pricing of an underwritten public offering of 8,000,000 shares of its Class A common stock at a public offering price of $29.25 per share, consisting of 6,000,000 shares offered by the Company and 2,000,000 shares offered by certain of the Company’s employees and members of management (collectively, the “Selling Stockholders”). The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 shares of Class A common stock from the Company and the Selling Stockholders.  As a result, immediately after this offering, there will be 20,826,811 shares of Class A common stock outstanding (22,026,811 shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full).

Houlihan Lokey intends to use the net proceeds that it receives from this offering, after deducting estimated underwriting discounts and commissions, but before estimated offering expenses, to acquire in April 2017 a number of shares of its outstanding Class B common stock equal to the number of shares of Class A common stock sold by the Company in the offering (including any shares sold pursuant to the underwriters’ option to purchase additional shares) from an affiliate of ORIX USA Corporation at a price per share equal to the price per share at which the Class A common stock was sold in the offering, after deducting underwriting discounts and commissions. 

Houlihan Lokey will not receive any of the proceeds from the sale of the shares of Class A common stock by the Selling Stockholders in this offering.

BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are acting as joint book-running managers for the offering. UBS Investment Bank, Keefe Bruyette & Woods, Inc. and Houlihan Lokey Capital, Inc. are additional book-running managers. Sandler O’Neill + Partners, L.P. and JMP Securities are acting as co-managers for the offering. 

The offering is being made pursuant to an effective shelf registration statement, including a prospectus and related prospectus supplement, filed by the Company with the Securities and Exchange Commission (“SEC”). These documents may be obtained for free by visiting the SEC’s website at http://www.sec.gov or by contacting: BofA Merrill Lynch (NC1-004-03-43), 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by emailing dg.prospectus_requests@baml.com; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or J.P. Morgan, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 866-803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.


 

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm's commitment to client success across its advisory services. Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global restructuring advisor, and the No. 1 global M&A fairness opinion advisor over the past 20 years, according to Thomson Reuters.

For press inquiries, contact PR@HL.com or +1 212 331 8223.


 

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