BlackRock has filed a prospectus supplement to register up to 12,035,866 shares of its common stock. These shares are designated for issuance to the former owners of HPS Investment Partners as consideration for the acquisition that closed on July 1, 2025. The shares will be used to redeem membership units in a BlackRock subsidiary that were issued as part of the transaction.
Key Details
- Total Registered Shares: Up to 12,035,866 shares of common stock.
- Purpose: To facilitate the future exchange of membership units issued as part of the acquisition of HPS Investment Partners.
- Consideration Structure: The shares cover both initial and deferred consideration, including up to 7,606,927 shares for units issued at closing and up to 4,428,939 shares for deferred units contingent on post-closing performance milestones.
- Redemption Timeline: The membership units will become redeemable for common stock on a one-for-one basis at certain times following the one-year anniversary of the acquisition's closing date (i.e., after July 1, 2026).