CoStar Group, Inc. Announces Public Offering of Common Stock
May 19 2020 - 4:13PM
Business Wire
CoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) announced it has
commenced a public offering of $1.25 billion of its common stock.
CoStar expects to grant the underwriters in the offering a 30-day
option to purchase an additional $187.5 million of its common
stock. Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities
and Citigroup are acting as joint book-running managers for the
offering. CoStar expects to use the net proceeds of the offering to
fund all or a portion of the costs of any strategic acquisitions it
determines to pursue in the future, to finance the growth of its
business and for working capital and other general corporate
purposes.
The shares are being offered pursuant to an effective shelf
registration statement that has been filed with the Securities and
Exchange Commission (“SEC”). A preliminary prospectus supplement
related to the offering has been filed with the SEC and is
available on the SEC's website at http://www.sec.gov. Copies of the
prospectus supplement and preliminary prospectus relating to the
offering may be obtained from Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282,
telephone at (866) 471-2526, facsimile at (212) 902-9316 or by
emailing prospectus-ny@ny.email.gs.com or J.P. Morgan Securities
LLC, Attention: Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by
email at prospectus-eq_fi@jpmchase.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq: CSGP) is the leading provider of
commercial real estate information, analytics and online
marketplaces. Founded in 1987, CoStar conducts expansive, ongoing
research to produce and maintain the largest and most comprehensive
database of commercial real estate information. Our suite of online
services enables clients to analyze, interpret and gain unmatched
insight on commercial property values, market conditions and
current availabilities. Headquartered in Washington, DC, CoStar
maintains offices throughout the U.S. and in Europe, Canada and
Asia with a staff of over 4,200 worldwide, including the industry’s
largest professional research organization.
Forward-looking statements
This news release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about CoStar’s plans, objectives, expectations and intentions and
other statements including words such as “hope,” “anticipate,”
“may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,”
“estimate,” “predict,” “continue” and “potential” or the negative
of these terms or other comparable terminology. Such statements are
estimates reflecting our judgment, beliefs and expectations, not
guarantees of future performance. They are subject to a number of
assumptions, risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements. More information about potential
factors that could cause results or other outcomes to differ
materially from those expressed or implied in the forward-looking
statements can be found in CoStar’s Annual Report on Form 10-K for
the year ended December 31, 2019, Quarterly Report on Form 10‑Q for
the quarter ended March 31, 2020, each of which is filed with the
SEC, including in the “Risk Factors” section of those filings, and
the company’s other filings with the SEC available at the SEC’s
website (www.sec.gov). CoStar assumes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200519005920/en/
Investors Scott Wheeler Chief Financial Officer (202)
336-6920 swheeler@costar.com
Sarah Spray Vice President, Investor Relations (202) 346-6394
sspray@costar.com
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