Pinterest Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares
April 29 2019 - 05:16PM
Business Wire
Pinterest, Inc. (NYSE: PINS) (“Pinterest”) today announced that
the underwriters of its initial public offering exercised in full
their option to purchase an additional 11,250,000 shares of Class A
common stock at the initial public offering price of $19.00, less
underwriting discounts. A total of 86,250,000 shares of Class A
common stock have now been sold by Pinterest in the offering,
including 75,000,000 shares of Class A common stock that closed on
April 23, 2019.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and
Allen & Company LLC served as lead joint book-running managers
for the offering. BofA Merrill Lynch, Barclays Capital Inc.,
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,
Deutsche Bank Securities Inc. and RBC Capital Markets, LLC. also
acted as book-running managers for the offering. Robert W. Baird
& Co. Incorporated, UBS Securities LLC and Wells Fargo
Securities, LLC served as co-managers for the offering.
A registration statement relating to this offering was declared
effective by the Securities and Exchange Commission on April 17,
2019. The offering was made only by means of a prospectus, copies
of which may be obtained from: Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526 or by
emailing Prospectus-ny@ny.email.gs.com; J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, phone: 866-803-9204,
email: prospectus-eq_fi@jpmchase.com; or Allen & Company,
Prospectus Department, 711 Fifth Avenue, 10th Floor, New York, NY
10022, email: dweidlein@allenco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these 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.
About Pinterest
Pinterest is a visual discovery engine that more than 250
million people use every month to find inspiration for their
lives—ideas ranging from dinner recipes, to home decor, to new
outfits. People have saved more than 175 billion Pins across
thousands of interests, which others can discover with search tools
and personalized recommendations.
Cautionary Statement Regarding Forward-Looking
Statements
Any statements made in this press release that do not relate
strictly to historical or current facts are forward-looking
statements that reflect Pinterest’s current plans, beliefs,
expectations and current views with respect to future events.
Forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other important factors that could
cause Pinterest’s actual results, performance or achievements to
differ materially from historical results or any future results,
performance or achievements expressed, suggested or implied by the
forward-looking statements. Certain of these risks and
uncertainties are described in Pinterest’s registration statement
on Form S-1 filed with the SEC, including under the headings of
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in the registration statement. Forward-looking
statements made in this press release speak only as of the date of
this press release, and Pinterest undertakes no obligation to
update them in light of new information or future events, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190429005826/en/
Press:Mike Mayzelpress@pinterest.comInvestor Relations:Jane
Pennerir@pinterest.com
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