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CoStar Group Prices Upsized 2.29M Share Common Stock Offering @$655/Share

CoStar Group, Inc. (NASDAQ: CSGP) ("CoStar") announced that it has upsized and priced its offering of 2,290,076 shares of its common stock at a price of $655.00 and granted the underwriters in the offering a 30-day option to purchase up to an additional 343,51

Benzinga · 05/21/2020 10:06

CoStar Group, Inc. (NASDAQ: CSGP) ("CoStar") announced that it has upsized and priced its offering of 2,290,076 shares of its common stock at a price of $655.00 and granted the underwriters in the offering a 30-day option to purchase up to an additional 343,511 shares of its common stock at the same price. The offering was upsized from the previously announced aggregate offering price of $1.25 billion to an aggregate offering price of $1.5 billion. Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities and Citigroup are acting as joint book-running managers for the offering. The offering is expected to close on May 26, 2020, subject to customary closing conditions. 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.