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CoStar Group Inc announces upsizing and pricing of common stock offering

Thursday, 5 Jun 2014 09:02pm EDT 

CoStar Group Inc:Prices public offering of 3,000,000 shares of common stock at $160.00 per share.Offering was upsized from previously announced public offering of 2,000,000 shares of common stock.Grants underwriters in offering 30-day option to purchase up to additional 450,000 shares of common stock.Expects to receive net proceeds of $460.1 mln, or $529.2 million if the underwriters exercise in full their option to purchase additional shares, after deducting underwriting discounts and commissions and other estimated offering expenses.Expects to close offering on or about June 11.J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, SunTrust Robinson Humphrey and Wells Fargo Securities acted as joint-bookrunning managers for offering.Needham & Company, Stephens Inc., William Blair, JMP Securities and B. Riley & Co. acted as co-managers.Expects to use net proceeds of offering to fund all or a portion of costs of any strategic acquisitions it determines to pursue in future, to finance growth of its business and for working capital and other general corporate purposes. 

Company Quote

-0.6 -0.29%
25 Nov 2015