AB issues ~9.4M units to EQH for $150M cash and unit exchange; funds debt paydown, growth

ALLIANCEBERNSTEIN HOLDING L.P.

Sold 4,215,140 AB Units to EQH at $35.59/unit ($150M cash); proceeds for debt repayment and insurance asset mgmt investments.
Exchanged 5,211,194 AB Units for an equal number of AB Holding Units from EQH; acquired Holding units retired.
Master exchange agreement allows up to 10M AB Units total to be issued over 2 years; 5.2M already used.
Cash sale and exchange exempt from registration under Section 4(a)(2) of Securities Act.
AB to use proceeds to extend borrowing capacity for recently announced insurance asset management initiatives.

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