DALLAS, Oct. 18, 2021 (GLOBE NEWSWIRE) -- P10, Inc. ("P10"), a leading private markets solutions provider announces today that subject to meeting all New York Stock Exchange ("NYSE") requirements at the time of listing and the SEC declaring effective P10's registration statement for its previously announced underwritten public offering (the "Offering"), P10 will undergo an uplisting to the NYSE. Currently, P10 Holdings, Inc.'s (OTC: PIOE) ("P10 Holdings") common stock is publicly traded on the OTC Pink Open Market. In connection with the Offering and the corporate reorganization described below, P10 Holdings will become a wholly-owned subsidiary of P10. The Offering is expected to price on October 20, 2021, and P10's Class A common stock is expected to begin trading on the NYSE on October 21, 2021 under the ticker "PX" under CUSIP 69376K106. Upon the effectiveness of the uplisting, trading of P10 Holdings on the OTC Pink Open Market will terminate.
Prior to the consummation of the Offering, P10 Holdings will consummate a reverse stock split of all of P10 Holdings' outstanding shares of common stock on a 0.7-for-1 basis (the "Reverse Stock Split") and a corporate reorganization. Fractional shares will be rounded up to the nearest whole number. After giving effect to the Reverse Stock Split, pursuant to the reorganization, stockholders of P10 Holdings common stock will no longer hold shares of P10 Holdings common stock and will receive an equivalent number of shares of Class B common stock of P10. P10 Holdings will become a wholly-owned subsidiary of P10. The P10 Class B common stock that the P10 Holdings common stockholders receive is convertible at the discretion of the holder into P10, Inc. Class A common stock on a one-for-one basis.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of any entity.
P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10's mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of June 30, 2021, P10 has a global investor base of over 2,400 investors, across 46 states, 29 countries and six continents, which includes some of the world's largest pension funds, endowments, foundations, corporate pensions and financial institutions.
P10's Certificate of Incorporation will contain certain provisions for the protection of tax benefits relating to P10's net operating losses. Such provisions generally void transfers of shares that would result in the creation of a new 4.99% shareholder or result in an existing 4.99% shareholder acquiring additional shares of P10.
Important Cautions Regarding Forward-Looking Statements
This press release includes "forward-looking statements." Such forward-looking statements include, but are not limited to, statements regarding P10's uplisting to the NYSE and consummation of the corporate reorganization and Offering. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, future capital requirements, regulatory actions or delays and other factors that may cause actual results to be materially different from those described or anticipated by these forward-looking statements. The foregoing list of factors is not exclusive. For a more detailed discussion of these factors and risks, investors should review P10's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on September 27, 2021, as amended. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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