secwatch.observer — SEC 8-K summary
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Issuer:     StepStone Group Inc. (STEP)
CIK:        0001796022
Form:       8-K
Filed at:   2024-05-31T23:59:59+00:00
Accession:  0001193125-24-151736
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

StepStone completes first annual exchange to acquire ~5% stakes in three asset class entities, now owns 54-56% of each
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- Now owns 56% of SRE, 54% of SIRA, and 55% of SPD after acquiring ~5% stakes from sellers.
- Aggregate consideration paid: ~$13M cash, 513,394 shares of Class A Common Stock, and 2,239,185 Class D Units.
- Tenth A&R LPA creates Class D Units; rights substantially similar to existing Class C Units.
- Class D Units exchangeable for Class A Common Stock on one-for-one basis after max 1-2 year restriction.
- Second A&R Registration Rights Agreement grants sellers demand, shelf, and piggyback registration rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1796022/000119312524151736/0001193125-24-151736-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1796022/000119312524151736/d810694d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-151736

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