Hamilton Lane Alliance Holdings I, Inc. Announces Closing of Initial Public Offering and Full Exercise of Overallotment Option

BALA CYNWYD, PENN  — Hamilton Lane Alliance Holdings I, Inc. (the “Company”) today announced the closing of its upsized initial public offering of 27,600,000 units, which includes the exercise in full by the underwriters of their overallotment option to purchase up to an additional 3,600,000 units. Total gross proceeds from the offering were $276 million before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The units began trading on Nasdaq on January 13, 2021 under the ticker symbol “HLAHU.” Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on Nasdaq under the symbols “HLAH” and “HLAHW,” respectively.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to identify and consummate an initial business combination that it believes will generate attractive long-term returns for its shareholders. The Company intends to avoid companies in highly cyclical sectors such as upstream and midstream energy, commodities or real estate. The Company’s sponsor is an affiliate of Hamilton Lane Advisors, L.L.C., the managing member of which is Hamilton Lane Incorporated (Nasdaq: HLNE), a leading private markets investment management firm.

J.P. Morgan and Morgan Stanley acted as joint book-running managers for the offering.

The public offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204, or by emailing at prospectus-eq_fi@jpmchase.com and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014.

A registration statement relating to the securities, as well as a related registration statement on Form S-1MEF filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 462(b) under the Securities Act of 1933, as amended, became effective on January 12, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, 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 jurisdiction. 

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated separate trading of the securities comprising the units and the Company’s plans with respect to the target industry for a potential business combination. No assurance can be given that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.