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AssetMark Announces Pricing of Its Initial Public Offering

1077 Days ago

CONCORD, Calif., July 17, 2019 (GLOBE NEWSWIRE) -- AssetMark Financial Holdings, Inc. (“AssetMark”) today announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $22.00 per share. AssetMark is offering 6,250,000 shares of common stock, and the selling stockholder, an affiliate of Huatai Securities Co., Ltd., is offering 6,250,000 shares of common stock. In addition, the selling stockholder has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock at the initial public offering price less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange on July 18, 2019 under the symbol "AMK." The offering is expected to close on July 22, 2019, subject to customary closing conditions.

J.P. Morgan and Goldman Sachs & Co. LLC are acting as joint lead bookrunning managers for the offering. Credit Suisse and Huatai Securities (USA) are also acting as joint bookrunning managers for the offering.  BMO Capital Markets, Raymond James and William Blair are acting as co-managers.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on July 17, 2019. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, by email at prospectus-ny@ny.email.gs.com, or by telephone at (866) 471-2526.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these 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.

About AssetMark Financial Holdings, Inc.

AssetMark is a leading provider of extensive wealth management and technology solutions that power independent financial advisers and their clients. Through AssetMark, Inc., its investment adviser subsidiary registered with the Securities and Exchange Commission, AssetMark operates a platform that comprises fully integrated technology, personalized and scalable service and curated investment platform solutions designed to make a difference in the lives of advisers and their clients.

Lana Gersten
Group Gordon

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