Houlihan Lokey announced the pricing of its initial public offering of 10,500,000 shares of its Class A common stock at a public offering price of $21.00 per share. The shares began trading on August 13, 2015 on the NYSE under the ticker symbol “HLI.”

All of the shares are being offered by an affiliate of ORIX USA and certain of the company’s employees and members of management. The affiliate of ORIX USA has also granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of Class A common stock.

Houlihan Lokey will not receive any proceeds from the offering, including from any exercise by the underwriters of their option to purchase additional shares.

BofA Merrill Lynch and Goldman Sachs were lead joint book-running managers for the offering. Additional book-running managers are UBS Investment Bank, Keefe, Bruyette & Woods and Houlihan Lokey. Co-managers are Sandler O’Neill & Partners and JMP Securities.