secwatch.observer — SEC 8-K summary
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Issuer:     StepStone Group Inc. (STEP)
CIK:        0001796022
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001193125-22-276867
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

StepStone Group enters Option Agreement to restructure Conversus platform, rebrand as StepStone Private Wealth
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- StepStone Group entered an Option Agreement on Nov. 2, 2022 for its Conversus platform, which will be rebranded as StepStone Private Wealth.
- CH (Conversus Holdings) can put its profits interest to StepStone for cash or up to 75% SSG Units, with a put window from June 30, 2026 to June 30, 2027.
- StepStone has a call option on the profits interest after July 1, 2027, and can pay up to 75% in SSG Units subject to a three-year lock-up on 70% of units.
- The purchase price includes earnout/earndown adjustments based on Fee-Related Earnings growth, capped at 10% of Net Purchase Price, with additional earnout up to 5% based on Basic ANI.
- J.P. Morgan Securities LLC acted as financial advisor to StepStone for the transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1796022/000119312522276867/0001193125-22-276867-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1796022/000119312522276867/d383780d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-276867

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