CHARLOTTE, N.C., Nov. 5, 2015 /PRNewswire/ -- LendingTree,
Inc. (NASDAQ: TREE) (the "Company"), a leading online loan
marketplace, announced today the pricing of the previously
announced underwritten public offering of 850,000 shares of its
common stock, of which 725,000 shares will be issued and sold by
the Company and 125,000 shares will be sold by the selling
stockholder, at a price to the public of $115.00 per share. The offering is expected
to close on November 12, 2015,
subject to standard closing conditions. In connection with
the offering, the Company has granted the underwriters an option
for a period of 30 days to purchase up to an additional 127,500
shares of common stock.
The Company expects the total net proceeds from the offering,
after deducting underwriting discounts and commissions and other
estimated offering expenses, will be $77.6
million, or $91.4 million if
the underwriters exercise in full their option to purchase
additional shares. The Company expects to use the net
proceeds from the offering for general corporate purposes,
including, but not limited to, working capital and potential
acquisitions. The Company will receive no proceeds from the offer
and sale of shares by the selling stockholder.
BofA Merrill Lynch, RBC Capital Markets, LLC and SunTrust
Robinson Humphrey, Inc. are acting as joint book-running managers
for the offering. Guggenheim Securities, Needham &
Company and Stephens Inc. are acting as co-managers for the
offering
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The offering of these securities will
be made only by means of the prospectus supplement and the
accompanying prospectus.
The shares of common stock are being offered pursuant to an
effective shelf registration statement that has been filed with the
Securities and Exchange Commission. Copies of the prospectus
supplement related to the offering may be obtained free of charge
from the Securities and Exchange Commission's website at
www.sec.gov or by contacting any of the joint book-running
managers, including: BofA Merrill Lynch, 222 Broadway,
New York, NY 10038,
attention: Prospectus Department, or e-mail
dg.prospectus_requests@baml.com; RBC Capital Markets, Attn: Equity
Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281 or by telephone at
877-822-4089 or by email at equityprospectus@rbccm.com; or SunTrust
Robinson Humphrey, Inc., Attn: Prospectus Department, 3333
Peachtree Rd., NE, Atlanta, GA
30326 or by telephone at 404-926-5744 or by e-mail at
STRH.Prospectus@SunTrust.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
The matters contained in the discussion above may be considered
to be "forward-looking statements" within the meaning of the
Securities Act of 1933, as amended, and the Securities Exchange Act
of 1934, as amended by the Private Securities Litigation Reform Act
of 1995, as amended. Those statements include statements regarding
the intent, belief or current expectations or anticipations of the
Company and members of its management team. Factors currently known
to management that could cause actual results to differ materially
from those in forward-looking statements include the following:
adverse conditions in the United
States or global capital markets; adverse conditions in the
primary and secondary mortgage markets and in the economy,
particularly interest rates; willingness of lenders to make
unsecured personal loans and purchase leads for such products from
the Company; seasonality of results; potential liabilities to
secondary market purchasers; changes in the Company's relationships
with network lenders; breaches of network security or the
misappropriation or misuse of personal consumer information;
failure to provide competitive service; failure to maintain brand
recognition; ability to attract and retain customers in a
cost-effective manner; ability to develop new products and services
and enhance existing ones; competition; allegations of failure to
comply with existing or changing laws, rules or regulations, or to
obtain and maintain required licenses; failure of network lenders
or other affiliated parties to comply with regulatory requirements;
failure to maintain the integrity of systems and infrastructure;
liabilities as a result of privacy regulations; failure to
adequately protect intellectual property rights or allegations of
infringement of intellectual property rights; and changes in
management. These and additional factors to be considered are
set forth under "Risk Factors" in the Company's Annual Report on
Form 10-K for the period ended December 31,
2014, Quarterly Reports on Form 10-Q for the periods ended
June 30, 2015 and September 30, 2015, the prospectus supplement
related to the offering and other filings with the Securities and
Exchange Commission. The Company undertakes no obligation to update
or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results or expectations.
About LendingTree, Inc.
LendingTree, Inc. operates a leading online loan marketplace and
provides consumers with an array of online tools and information to
help them find the best loans for their needs. The Company's online
marketplace connects consumers with multiple lenders that compete
for their business, empowering consumers as they comparison-shop
across a full suite of loans and credit-based offerings. The
Company provides access to lenders offering home loans, home equity
loans/lines of credit, reverse mortgages, personal loans, auto
loans, small business loans, credit cards, student loans and
more.
LendingTree, Inc. is headquartered in Charlotte, NC and maintains operations solely
in the United States.
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SOURCE LendingTree, Inc.