Snap Inc. Announces Pricing of Initial Public Offering
March 01 2017 - 5:08PM
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.
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