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CoStar Group, Inc. Announces Exercise of Underwriters' Option to Purchase an Additional 343,511 Shares of Common Stock
WASHINGTON--(BUSINESS WIRE)-- CoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) today announced that the underwriters have exercised their option to purchase an
About this update from Costar Group, Inc.
[{"type":"text","content":" WASHINGTON--(BUSINESS WIRE)--\nCoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) today announced that the underwriters have exercised their option to purchase an additional 343,511 shares of CoStar’s common stock at $655.00 per share, in addition to the 2,290,076 shares of CoStar common stock, which were purchased on May 20, 2020. Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities and Citigroup are acting as joint book-running managers for the offering. The sale of the overallotment shares is expected to close on March 28, 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.\n\n\nThe shares are being offered pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (“SEC”). A prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement and accompanying 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 J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at [email protected].\n\n\nThis news release shall not constitute an offer to sell or the solicitation of an offer to buy, 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. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.\n\n\nAbout CoStar Group, Inc.\n\n\nCoStar Group, Inc. (Nasdaq: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehe...