Focus Financial Partners Inc. Prices Initial Public Offering

NEW YORK--(BUSINESS WIRE)--Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”) announced today the pricing of an initial public offering of 16,216,217 shares of its Class A common stock at $33.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol “FOCS” on July 26, 2018. In addition, Focus granted the underwriters a 30-day option to purchase up to an additional 2,432,433 shares of Focus’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on July 30, 2018, subject to customary closing conditions.

Focus expects to receive approximately $535.1 million of gross proceeds from the offering, or $615.4 million if the underwriters exercise their option to purchase additional shares in full. Focus intends to use a portion of the net proceeds from the offering to redeem outstanding limited liability company units (“Units”) in Focus Financial Partners, LLC (“Focus LLC” and Units therein, “Focus LLC Units”), its subsidiary, from certain existing holders. Focus intends to contribute the remaining net proceeds to Focus LLC in exchange for Focus LLC Units. Focus LLC will use such net proceeds to reduce indebtedness under its credit facilities and for acquisitions and general corporate business purposes. If the underwriters exercise their option to purchase additional shares, Focus intends to contribute the proceeds it receives to Focus LLC in exchange for additional Focus LLC Units, and Focus LLC will use such proceeds for acquisitions and general corporate business purposes.

Goldman Sachs & Co. LLC, BofA Merrill Lynch, KKR Capital Markets, BMO Capital Markets, RBC Capital Markets and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering. Fifth Third Securities, Keefe Bruyette & Woods, a Stifel Company, MUFG, Raymond James & Associates, Inc., Regions Securities LLC and William Blair are acting as co-managers.

The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. A copy of the prospectus may be obtained from:

Goldman Sachs & Co. LLC
Attention: Prospectus Department
200 West Street
New York, NY 10282
Phone: [phone]
[e-mail]

BofA Merrill Lynch
Attention: Prospectus Department
NC1-004-03-43, 200
200 North College Street, 3rd Floor
Charlotte, NC 28255-0001
[e-mail]

About Focus Financial Partners Inc.

Focus Financial Partners is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives.

Important Information

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “Focus Financial Partners Inc.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the closing of the initial public offering and Focus’ use of proceeds from the offering, represent Focus’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Focus’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Focus does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Focus to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Focus’s initial public offering. The risk factors and other factors noted in Focus’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.