Exhibit 99.1
News Release |
Victory Capital Stockholders Approve
Elimination of Dual-Class Share Structure
San Antonio, Texas, November 22, 2021 ― Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today announced that its stockholders approved the Company’s previously announced proposal (the “Proposal”) to eliminate the Company’s dual-class share structure at a Special Meeting of Stockholders held on November 19, 2021.
As a result of the stockholders’ vote, upon the filing with the Secretary of State of Delaware of Victory Capital’s amended and restated charter, Victory Capital’s Class B common stock will convert into Class A common stock on a one-for-one basis, and the Company will have a single class of common stock. As a result, all holders of the Company’s common stock will have identical economic and voting rights.
Approximately 90% of the votes eligible to be cast at the Special Meeting of Stockholders were present either in-person or by proxy, and 99.99% of the votes cast were cast in favor of the Proposal.
All stock certificates for Class A common stock or Class B common stock will automatically represent shares of Victory Capital’s common stock and continue to trade under the ticker symbol "VCTR". No further stockholder action is required.
Victory Capital is a diversified global asset management firm with $162.6 billion in assets under management as of October 31, 2021. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment styles and investment vehicles including, actively managed mutual funds, separately managed accounts, active ETFs, multi-asset class strategies, custom-designed solutions, private funds, and a 529 Education Savings Plan.
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Contacts
Investors:
Matthew Dennis, CFA
Chief of Staff
Director, Investor Relations
216-898-2412
mdennis@vcm.com
Media:
Tricia Ross
310-622-8226
tross@finprofiles.com