Edelman gets $190 million debt commitment for buyout by Lee Equity

By Sara Rosenberg

New York, April 16 - The Edelman Financial Group Inc. has received a debt commitment for about $190 million in loans or other funds to help fund its purchase by Lee Equity Partners LLC, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Other funds will come from $132 million of equity.

Under the agreement, Edelman is being acquired for $8.85 per share in cash.

Closing is expected in the third quarter, subject to stockholder approval and regulatory approvals.

There is a go shop period through May 26.

Edelman is a Houston-based wealth management firm.

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