Oaktree Debuts as Double-Busted IPO (OAK)

Banking, finance, and taxes

Published: April 12, 2012 9:56 am

Last Updated: April 28, 2020 2:59 am

Oaktree Capital Group, LLC (NYSE: OAK) is looking to be an initial public offering which went from bad to worse. Let’s call is a double-busted IPO. The initial public offering price was $43.00 per unit with more than 8.8 million units sold in total. Oaktree sold 7,888,864 units and the selling unitholders sold 954,159 Class A units.

Here is why this was a double-busted IPO. The amended filing was a range of $43 to $46 per unit, and the original offering was supposed to be for 10.295 million units. This sold at the bottom of the range and sold far fewer units than what it hoped. Shares are currently trading under $41.50 per unit. Maybe this is a triple-busted IPO.

Goldman Sachs and Morgan Stanley were the joint global coordinators and BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities and J.P. Morgan were the joint bookrunners for this offering. This underwriting syndicate has been granted a 30-day option to purchase up to an additional 1,183,331 Class A units from Oaktree and 143,123 Class A units from the selling unitholders.

Oaktree is an investment management firm focused on alternative markets with investments in distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities.

Welcome to the markets!

JON C. OGG

Take Charge of Your Retirement In Just A Few Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.

Here’s how it works:

Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!