NEW YORK, Dec. 2, 2011 /PRNewswire/ -- Bankrate,
Inc. (NYSE: RATE), in accordance with its obligations
under the underwriting agreement entered into relating to its
recent initial public offering, today announced that Goldman, Sachs
& Co. and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, the lead book-running managers of Bankrate's recent
initial public offering, have agreed to waive lock-up restrictions
with respect to up to 302,128 shares of common stock of Bankrate
held by certain officers of the Company to permit them to sell such
shares in the offering described in Bankrate, Inc's Registration
Statement on Form S-1 (File No. 333-178132) initially filed with
the Securities and Exchange Commission on November 23, 2011. The waiver will take
effect on December 6, 2011, and the
shares may be sold on or after such date.
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This press release is not an offer for sale of the securities
in the United States or in any
other jurisdiction where such offer is prohibited, and such
securities may not be offered or sold in the United States absent registration or an
exemption from registration under the United States Securities Act
of 1933, as amended. A registration statement relating to
these securities has been filed with the Securities and Exchange
Commission but has not yet become effective. These securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective.
About Bankrate, Inc.
Bankrate is a leading publisher, aggregator and distributor
of personal finance content on the Internet. We provide consumers
with proprietary, fully researched, comprehensive, independent and
objective personal finance editorial content across multiple
vertical categories including mortgages, deposits, insurance,
credit cards, and other categories, such as retirement, automobile
loans, and taxes. The Bankrate network includes Bankrate.com, our
flagship website, and other owned and operated personal finance
websites, including Interest.com, Bankaholic.com,
Mortgage-calc.com, CreditCardGuide.com, Nationwide Card Services,
InsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.com,
CreditCards.ca, NetQuote, and CD.com. We aggregate rate information
from over 4,800 institutions on more than 300 financial products.
With coverage of nearly 600 local markets in all 50 U.S. states, we
generate over 172,000 distinct rate tables capturing on average
over three million pieces of information daily. We develop and
provide web services to over 75 co-branded websites with online
partners, including some of the most trusted and frequently visited
personal finance sites on the Internet such as Yahoo!, AOL, CNBC
and Bloomberg. In addition, we license editorial content to over
100 newspapers on a daily basis including The Wall Street Journal,
USA Today, The New York Times, The Los
Angeles Times and The Boston Globe.
www.bankrate.com
For more information contact:
Edward J. DiMaria
SVP, Chief Financial Officer
edimaria@bankrate.com
(917)
368-8608
Bruce J. Zanca
SVP, Chief Communications/Marketing Officer
bzanca@bankrate.com
(917) 368-8648
SOURCE Bankrate, Inc.