LendingTree Announces Secondary Offering Of 2,955,984 Shares Of Common Stock

About this update from Lendingtree, Inc.

[{"type":"text","content":"CHARLOTTE, N.C., Nov. 16, 2020 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE) (\"LendingTree\" or the \"Company\"), a leading online loan marketplace, today announced an underwritten public offering (the \"Public Offering\") of 2,955,984 shares of common stock by Ventures Holdco II, LLC (the \"Selling Stockholder\"), which is a wholly-owned subsidiary of GCI Liberty, Inc. (\"GCI Liberty\"). Contemporaneously with the Public Offering, the Selling Stockholder is also offering an additional 488,005 shares of common stock pursuant to a private placement to be purchased by Royal Bank of Canada (the \"Concurrent Private Placement\"). The Public Offering is not contingent on the completion of the Concurrent Private Placement, but the Concurrent Private Placement is contingent on the completion of the Public Offering. \n\n \n \n \n \n \n \n\n \nAfter giving effect to the Public Offering and the Concurrent Private Placement, GCI Liberty will not beneficially own any of our shares of common stock. As a result, our \"Spinco Agreement\" with GCI Liberty will terminate and GCI Liberty will no longer have the right to designate directors for nomination to LendingTree's board of directors. It is expected that Courtnee Chun will resign as a member of LendingTree's board of directors effective upon completion of the Public Offering.\nLendingTree is not selling any shares of common stock in, and will not receive any proceeds from the Public Offering or the Concurrent Private Placement.\nGoldman Sachs & Co. LLC is acting as the sole underwriter for the Public Offering.\nThe issuer has filed a registration statement on Form S-3 (File No. 333-233034) with the U.S. Securities and Exchange Commission (\"SEC\") for the Public Offering to which this communication relates and which has become effective. A preliminary prospectus supplement relating to the Public Offering will also be filed with the SEC. Before you invest, you should read the prospectus in that registration statement, the applicable preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer, the Selling Stockholder and the Public Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. The issuer, underwriter or any dealer participating in the Public Offering will arrang...

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