LPL Investment Holdings Inc. Announces Pricing of Secondary Offering by Principal Stockholders

BOSTON, May 1, 2012 /PRNewswire/ -- LPL Investment Holdings Inc. (NASDAQ: LPLA) (the "Company") today announced that it has priced its secondary offering of 14,500,000 shares of its common stock by investment funds associated with Hellman & Friedman LLC and TPG Capital, L.P. (the "Selling Stockholders") at a price to the public of $34.50 per share.  The underwriters have a 30-day option to purchase up to an additional 1,450,000 shares from the Selling Stockholders.  The Company itself is not selling any shares in this offering.  Subject to customary conditions, the offering is expected to close on or about May 7, 2012.  Morgan Stanley, BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are acting as joint book-running managers for the offering.  Citigroup, SunTrust Robinson Humphrey, Wells Fargo Securities, Sanford C. Bernstein, William Blair, Blaylock Robert Van, LLC, Drexel Hamilton, Keefe, Bruyette & Woods, Macquarie Capital and Sandler O'Neill + Partners, L.P. are acting as co-managers.

The shares will be offered pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The Company has also filed with the Securities and Exchange Commission a preliminary prospectus with respect to this offering.  This press release shall not constitute an offer to sell or a 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.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from:

Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649 or email [email protected]; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or email [email protected]; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204.

About LPL Financial 

LPL Financial, a wholly owned subsidiary of LPL Investment Holdings Inc. (NASDAQ: LPLA), is an independent broker-dealer. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to more than 12,900 financial advisors and approximately 680 financial institutions. In addition, LPL Financial supports over 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have over 2,700 employees with headquarters in  Boston, Charlotte, and San Diego.

LPLA-C

SOURCE LPL Investment Holdings Inc.

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