CoStar Group, Inc. Announces Common Stock Offering Price
WASHINGTON–(BUSINESS WIRE)–CoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) today announced that it has priced its offering of 10,656,436 shares of common stock at $70.38 per share. Goldman Sachs & Co. LLC and JP Morgan are acting as joint bookrunners for the offering. The offering is expected to close on September 20, 2022, subject to customary closing conditions. CoStar expects to use the net proceeds of the offering to fund all or part of the costs of any strategic acquisition that CoStar decides to pursue in the future, to fund the growth of its business and for working capital and other general business needs.
The shares are offered pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Before investing, you should read the prospectus in the registration statement and other documents that CoStar has filed with the SEC for more complete information about CoStar and this offering. 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 [email protected] or JP Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by phone at (866) 803-9204 or by email at [email protected]
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no 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 such state or territory. The offering of such 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 a leading provider of online real estate marketplaces, information and analysis. Founded in 1987, CoStar conducts extensive and 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 unparalleled insight into commercial property values, market conditions and current availability. STR provides premium benchmarking data, analysis and market insights for the global hospitality industry. Ten-X provides a leading platform for conducting online auctions and negotiated offers for commercial real estate. LoopNet is the busiest online marketplace for commercial real estate. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com are the premier online apartment resource for renters looking for superb apartments and provide property managers and owners with a proven platform for marketing their properties. Homesnap is a leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and strengthen the agent-client relationship. Homes.com provides residential property advertising and marketing services to real estate professionals. Realla is the UK’s most comprehensive digital commercial property marketplace. BureauxLocaux is one of the largest real estate portals specializing in the purchase and rental of business real estate in France. CoStar Group websites attract tens of millions of unique visitors each month. Based in Washington, DC, CoStar Group has offices in the United States, Europe, Canada and Asia. From time to time, we plan to use our corporate website, www.costargroup.com, as a channel for distributing important company information.
This press 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, goals, 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 form of these terms or any other comparable terminology. These statements are estimates reflecting our judgment, beliefs and expectations, and 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 by the forward-looking statements. Further information about potential factors that could cause actual results or other results to differ materially from those expressed or implied by the forward-looking statements can be found in CoStar’s Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2021, Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2022, and Preliminary Prospectus Supplement, dated September 14, 2022, each filed with the SEC, including in the section “Factors Statement” of these filings, and the Company’s other filings with the SEC available at the SEC’s website (www.sec.gov). CoStar undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.