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Rating:Which ETF Provider Has a Market Cap of $734M? Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 09, 2012

Which ETF Provider Has a Market Cap of $734M?

Reported by Neil Anderson, Managing Editor

WisdomTree (WETF on the Nasdaq) [profile] and its shareholders just sold 16,516,587 shares for $92,658,053, yet WisdomTree's share price is on the rise.

In October, the New York City-based ETF provider filed an S-1 with the SEC to do a secondary offering of one million shares, and last week WisdomTree priced the offering (which ended up including 15,516,587 shares from existing WisdomTree shareholders) at $5.61 per share [see MFWire.com, 2/3/2012]. Today, WisdomTree revealed that the offering closed, at the price expected. Yet, WETF stood at $6.34 per share at 2:41pm today, a 13 percent premium over the price of the offering.

WisdomTree boasts a market cap of $734.24 million and a price-to-earnings ratio of $279.08.

Company Press Release

NEW YORK, Feb 8, 2012 -- WisdomTree Investments, Inc. an exchange-traded fund sponsor and asset manager, today announced the closing of its previously announced underwritten public offering of shares of its common stock. A total of 16,516,587 shares were sold in the offering at $5.61 per share, before underwriting discounts and commissions. The company sold 1,000,000 shares and certain selling stockholders of WisdomTree sold 15,516,587 shares, including 2,154,336 shares sold by certain selling stockholders pursuant to the full exercise of the underwriters' option to purchase additional shares. WisdomTree intends to use the net proceeds from the shares it sold for working capital and general corporate purposes. The company will not receive any proceeds from sales by the selling stockholders.

BofA Merrill Lynch and Morgan Stanley acted as joint book-running managers for the offering. Barclays Capital, Citigroup, UBS Investment Bank, Piper Jaffray, Sandler O'Neill + Partners, L.P., and Sterne Agee acted as co-managers for the offering.

A registration statement on Form S-1 relating to this offering was declared effective by the Securities and Exchange Commission on February 2, 2012. 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering may be made only by means of a prospectus. When available, a copy of the prospectus may be obtained from: BofA Merrill Lynch, Attn: Prospectus Department, 4 World Financial Center, New York, NY 10080, Email: dg.prospectus_requests@baml.com; and Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Tel: 866-718-1649, Email: prospectus@morganstanley.com.

About WisdomTree

WisdomTree Investments, Inc. is a New York-based exchange-traded fund ("ETF") sponsor and asset manager. WisdomTree currently offers 47 ETFs across Equities, Currency Income, Fixed Income and Alternatives asset classes. WisdomTree also licenses its indexes to third parties for proprietary products and promotes the use of WisdomTree ETFs in 401(k) plans. WisdomTree currently has approximately $14.2 billion in ETF assets under management.

WisdomTree(R) is the marketing name for WisdomTree Investments, Inc. and its wholly owned subsidiaries WisdomTree Asset Management, Inc. and WisdomTree Retirement Services, Inc.

WisdomTree Asset Management, Inc. is a registered investment advisor and is the investment advisor to the WisdomTree Trust and the WisdomTree ETFs. The WisdomTree Trust is a registered open-end investment company. Each WisdomTree ETF is a series of the WisdomTree Trust. WisdomTree Retirement Services, Inc. supports the use of the WisdomTree ETFs in retirement plans by financial professionals.

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