Chip stocks fall with Nvidia after data center rev disappointment
Perella Weinberg Partners (PWP), a $1.67 billion finance services firm trading at $18.87, disclosed the unregistered issuance of 1,234,357 shares of Class A common stock in exchange for Class A partnership units and Class B common stock of PWP Holdings LP (PWP OpCo). According to InvestingPro analysis, the company’s stock is currently trading near its Fair Value. The transaction took place on May 16, 2025, as per the terms of the Amended and Restated Limited Partnership Agreement of PWP OpCo.
The exchange allows holders of Class A partnership units of PWP OpCo to convert their units into shares of Perella Weinberg’s Class A common stock on a one-for-one basis, among other options. The decision between receiving cash or shares is at the company’s discretion.
This equity issuance is part of an internal mechanism that enables limited partners of PWP OpCo to exchange their partnership units and associated Class B common stock for Perella Weinberg’s publicly traded Class A common stock. The newly issued shares of Class A common stock were exchanged at a conversion rate of 1:1000 (or 0.001) for the Class B common stock.
The shares were issued in a private transaction, relying on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933. This exemption is typically used for transactions by an issuer not involving a public offering, without general solicitation or advertising.
The transaction was reported in a Form 8-K filing with the Securities and Exchange Commission, as required by the SEC for significant events that shareholders should know about. The filing was made on May 19, 2025, and reflects the company’s compliance with SEC regulations regarding the reporting of unregistered sales of equity securities.
In other recent news, Perella Weinberg Partners reported strong financial results for the first quarter of 2025, exceeding Wall Street expectations. The company achieved earnings per share of $0.28, surpassing the forecasted $0.21, and recorded revenues of $212 million, which was above the anticipated $199.01 million. This marked a 100% year-over-year increase in revenue, setting a record for the highest first-quarter revenue in the firm’s history. The company ended the quarter with $111 million in cash and no debt, demonstrating solid financial health. Additionally, Perella Weinberg declared a quarterly dividend of $0.70 per share, enhancing shareholder returns. Despite these positive developments, the stock experienced a slight premarket decline, which may be attributed to broader market uncertainties. Analysts from Citizens Bank and Wolfe Research have engaged with the company, focusing on the current M&A environment and the firm’s strategic recruitment efforts. Perella Weinberg remains optimistic about future transaction activity as policy uncertainties begin to diminish.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.