Perella Weinberg Partners warrant exchange offer
A total of 7,468,527 warrants were exchanged for stock
Davis Polk advised the dealer manager and solicitation agent in connection with an offer to exchange outstanding warrants to purchase shares of common stock of Perella Weinberg Partners for shares of Class A common stock of the company and the solicitation of consents from holders of the public warrants to amend the warrant agreement to permit the company to require that each warrant outstanding upon the closing of the exchange offer be converted into shares of Class A common stock. A total of 7,388,071 public warrants, or approximately 96.37% of the 7,666,642 outstanding public warrants, and an additional 80,456 private warrants were tendered, each for 0.20 shares of Class A common stock. The company issued 1,493,688 shares of Class A common stock in exchange for the warrants tendered in the offer. The settlement of the exchange offer occurred on August 23, 2022.
Based in New York, Perella Weinberg Partners is a leading global independent advisory firm, providing strategic and financial advice to a wide range of clients including corporations, individual entrepreneurs, private and institutional investors, credit committees and government institutions. The firm offers a wide range of advisory services to clients in the most active industry sectors and international markets.
The Davis Polk corporate team included partners Richard D. Truesdell Jr. and Derek Dostal, counsel Jeffrey S. Ramsay and associates Tomer Magid and Kamil Turkmani. The tax team included partner Lucy W. Farr and associates Kelli A. Rivers and William Liang. Members of the Davis Polk team are based in the New York and London offices.