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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170301006582/en/
For Snap Inc.
Investors:
ir@snap.com
or
Media:
press@snap.com
Source: Snap Inc.