NEW YORK, November 5, 2008 – Greenhill & Co., Inc. [NYSE: GHL], a leading independent investment banking firm, announced today that it has commenced an offering of 1,250,000 newly issued shares of its common stock and 2,250,000 shares currently owned by certain managing directors of Greenhill & Co. It is expected that the selling stockholders will grant the underwriters an over-allotment option to purchase an additional 525,000 shares of common stock. Goldman, Sachs & Co. will act as bookrunning manager for the offering and Banc of America Securities LLC, Keefe, Bruyette & Woods and Wachovia Securities will act as co-managers for the offering.
The Company intends to use the net proceeds it receives to pay amounts outstanding under its credit facility in order to provide financial flexibility to pursue, where appropriate, the further expansion of its advisory business by industry and location, for merchant banking investments and for general corporate purposes. Greenhill & Co. will not receive any proceeds from the sale of the shares to be offered and sold by the selling stockholders.
The shares will be offered and sold pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission. A preliminary prospectus supplement related to the offering has been filed with the Securities and Exchange Commission and is available on the SEC’s website www.sec.gov. Copies of the prospectus supplement for this offering may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad St., New York, NY 10004 or by faxing (212) 902-9316 or by emailing email@example.com. 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 registration or qualification under the securities laws of any such state or jurisdiction.