PRESS RELEASESMonday, March 12, 2018

Houlihan Lokey Announces Stock Offering

Houlihan Lokey Announces Primary Offering Of Class A Common Stock To Fund Repurchase Of Class B Common Stock And Secondary Offering Of Class A Common Stock By Selling Stockholders

Los Angeles and New York, March 12, 2018 – Houlihan Lokey, Inc. (NYSE: HLI) (“Houlihan Lokey” or the “Company”), the global investment bank, today announced an underwritten public offering of 4,000,000 shares of its Class A common stock, consisting of 2,000,000 shares offered by the Company and 2,000,000 shares offered by certain of the Company’s current and former employees and members of management (collectively, the “Selling Stockholders”).

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 2018 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 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 is 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.

Morgan Stanley is acting as the sole underwriter 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 or by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor - New York, NY 10014.

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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance, or achievements. For a further description of such factors, you should read the Company’s filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. 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 the No. 1 M&A advisor for the past six consecutive years in the U.S., the No. 1 global restructuring advisor for the past seven consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv.

For press inquiries, contact or 212.331.8223.

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