---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-233655"
form_type: "8-K"
ticker: "HLI"
cik: "0001302215"
company_name: "HOULIHAN LOKEY, INC."
filed_at: "2021-08-03T23:59:59+00:00"
generated_at: "2026-06-29T23:10:09.288001+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Houlihan Lokey to acquire GCA Corp for ~$591M; tender offer at ¥1,380/share, 31% premium

## Summary
- Total purchase price ~¥65B (~$591M) in cash; ¥1,380/share, a 31.3% premium to GCA's Aug 2 close of ¥1,051.
- Tender offer launches Aug 4, 2021; expected to close Oct 4, 2021; condition of 2/3 tender of shares.
- GCA is a global tech-focused investment bank with ~$355M CY2021E revenue; ~68% of revenue from tech sectors.
- Transaction expected to be accretive to HLI's EPS; combined firm to be one of largest independent global M&A advisors.
- Financed with cash on HLI's balance sheet; GCA to become private after second-step squeeze-out.

## SEC filing metadata
- accession: 0001193125-21-233655
- form_type: 8-K
- ticker: HLI
- cik: 0001302215
- company_name: HOULIHAN LOKEY, INC.
- filed_at: 2021-08-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1302215/000119312521233655/0001193125-21-233655-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1302215/000119312521233655/d109449d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-233655
- JSON: https://secwatch.observer/filing/0001193125-21-233655.json
- Plain text: https://secwatch.observer/filing/0001193125-21-233655.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.