Moelis & Co. Chief Executive Officer Ken Moelis, who took his independent advisory firm public in April, is preparing to sell about $59.2 million of stock in an additional offering.

Moelis, 56, plans to dispose of 1.73 million shares held by family trusts, and the company is offering 1.54 million, according to a regulatory filing Nov. 17. Existing shareholders of the New York-based firm, including the CEO, plan to sell a total of 3.96 million shares, up from 2.46 million disclosed in a filing earlier in November. The stock closed at $34.22 Nov. 17.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.