NEW YORK, Nov. 18, 2011 /PRNewswire/ -- Och-Ziff Capital Management Group LLC (NYSE: OZM) ("Och-Ziff" or the "Company") today announced the pricing of its follow-on public offering of 33,333,333 Class A Shares representing limited liability company interests at a price of $7.50 per share, raising gross proceeds of $250 million. In connection with the offering, the Company has granted the underwriters of the offering a 30-day option to purchase up to an additional 2,500,000 Class A Shares. Goldman, Sachs & Co., BofA Merrill Lynch, Morgan Stanley, Barclays Capital, Citigroup, Credit Suisse and UBS Investment Bank are serving as Joint Book-Running Managers for the offering.
The Company intends to use the net proceeds from the offering to repurchase at 95% of par a portion of the outstanding indebtedness under the credit agreement under which its affiliate, OZ Management LP, is the borrower.
Subject to customary conditions, the offering is expected to close on November 23, 2011.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on November 15, 2011. A prospectus supplement relating to the offering, dated November 17, 2011, was filed with the Securities and Exchange Commission.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other 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 other jurisdiction. Copies of the prospectus and the prospectus supplement related to the offering may be obtained from Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing firstname.lastname@example.org; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email email@example.com; or Morgan Stanley, via telephone: (866) 718-1649, email: firstname.lastname@example.org, or standard mail at Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that reflect the Company's current views with respect to, among other things, future events and financial performance. The Company generally identifies forward-looking statements by terminology such as "outlook," "believe," "expect," "potential," "continue," "may," "will," "should," "could," "seek," "approximately," "predict," "intend," "plan," "estimate," "anticipate," "opportunity," "comfortable," "assume," "remain," "maintain," "sustain," "achieve," "see," "think," "position" or the negative version of those words or other comparable words.
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