Moelis Prices IPO Below Range

(RTTNews) - Moelis & Co. (MC), the boutique investment firm founded by investment banker Kenneth Moelis seven years ago, said Tuesday that it has priced its initial public offering of 6.5 million shares of its Class A common stock at a price to the public of $25.00 per share, which is below the previously estimated price range of $26.00 to $29.00 per share.

The company has also granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.

The company's shares of Class A common stock are expected to begin trading on the New York Stock Exchange on Wednesday, April 16 under the ticker symbol "MC."

The offering is expected to close on or about April 22.