Please ensure Javascript is enabled for purposes of website accessibility

Artisan Partners Floating Issue of Common Stock

By Eric Volkman – Oct 31, 2013 at 9:25PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company is offering 4.8 million class A common shares.

Artisan Partners Asset Management (APAM -1.49%) is leveraging its financial expertise to sell a block of its class A common shares to the market. The investment management firm is floating 4.8 million shares in an underwritten public issue priced at $56.00 per share. Additionally, the company's underwriters have been granted a purchase option for up to an additional 720,000 shares.

Artisan Partners said it plans to use the proceeds of the issue to purchase shares of its convertible preferred stock, and preferred units of subsidiary Artisan Partners Holdings, from funds controlled by private equity concern Hellman & Friedman.

Citigroup, Goldman Sachs, and Bank of America's Merrill Lynch are among the underwriters of the issue, which is expected to close next Wednesday.

At the moment, Artisan Partners has 16.6 million shares outstanding, and its stock most recently closed at $59.87 per share.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Goldman Sachs. The Motley Fool owns shares of Bank of America and Citigroup. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Artisan Partners Asset Management Stock Quote
Artisan Partners Asset Management
$27.71 (-1.49%) $0.42

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/06/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.