Snap Inc. Announces Pricing of Initial Public Offering

03/01/17

Snap Inc. Announces Pricing of Initial Public Offering

VENICE, Calif.--(BUSINESS WIRE)-- Snap Inc. today announced the pricing of its initial public offering of 200,000,000 shares of Class A common stock at a price to the public of $17 per share, for a total offering size of $3,400,000,000. Snap is issuing and selling 145,000,000 shares of Class A common stock and the selling stockholders are selling an additional 55,000,000 shares of Class A common stock. The shares are expected to begin trading on the New York Stock Exchange on March 2, 2017 under the symbol “SNAP.”

In addition, Snap and some of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 30,000,000 shares of Class A common stock at the initial public offering price less the underwriting discount.

Morgan Stanley, Goldman, Sachs & Co., J.P. Morgan, Deutsche Bank Securities, Barclays, Credit Suisse and Allen & Company LLC are acting as book-running managers for the offering.

The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or email: prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866- 803-9204, or email: prospectus-eq_fi@jpmchase.com; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, Telephone: 800-503-4611, or email: prospectus.CPDG@db.com; Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or email: Barclaysprospectus@broadridge.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, or by telephone at +1 (800) 221-1037, or by email atnewyork.prospectus@credit-suisse.com; or Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue , 10th Floor, New York NY 10033, telephone: 212-339-2220, or email: dweidlein@allenco.com.

A registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that state or jurisdiction.

For Snap Inc.
Investors:
ir@snap.com
or
Media:
press@snap.com

Source: Snap Inc.

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