Bumble Inc. Prices $2.2 Billion IPO
February 10 2021 - 6:23PM
Bumble Inc. announced today the pricing of its initial public
offering of 50,000,000 shares of its Class A common stock at a
price to the public of $43.00 per share. Bumble has granted the
underwriters a 30-day option to purchase up to an additional
7,500,000 shares of Class A common stock. The shares are expected
to begin trading on the Nasdaq Global Select Market on February 11,
2021 under the symbol “BMBL”.
Bumble intends to use the proceeds (net of underwriting
discounts) from the issuance of 9 million shares to repay a portion
of its senior secured term loan facilities and for general
corporate purposes, and to bear the expenses of the offering.
Bumble intends to use the proceeds (net of underwriting discounts)
from the issuance of 41 million shares (or 48.5 million shares if
the underwriters exercise in full their option to purchase
additional shares of Class A common stock) to purchase or redeem an
equivalent aggregate number of outstanding equity interests from
certain entities affiliated with Blackstone. The offering is
expected to close on February 16, 2021, subject to customary
closing conditions.
Goldman Sachs & Co. LLC and Citigroup are acting as joint
lead book-running managers and as representatives of the
underwriters for the offering. Morgan Stanley and J.P. Morgan are
acting as joint book-running managers for the offering. Jefferies,
RBC Capital Markets and Evercore ISI are acting as joint
book-runners for the offering. Blackstone Capital Markets, BMO
Capital Markets, Cowen, Raymond James, Stifel, BTIG, Nomura, SMBC
Nikko, AmeriVet Securities, C.L. King & Associates, Drexel
Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez
& Co., Inc., Siebert Williams Shank and Telsey Advisory Group
are acting as co-managers for the offering.
The offering of these securities is being made only by means of
a prospectus. When available, copies of the prospectus relating to
the initial public offering may be obtained from: Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, New York 10282, telephone: (866)-471-2526, facsimile:
212-902-9316, email: prospectus-ny@ny-email.gs.com; or Citigroup
Global Markets Inc., Attention: Prospectus Department, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, telephone: (800) 831-9146.
A registration statement relating to these securities was filed
with, and declared effective by, the Securities and Exchange
Commission. This press 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.
About Bumble
Bumble Inc. is the parent company of Badoo and Bumble, two of
the world’s highest-grossing dating apps with millions of users
worldwide. The Bumble platform enables people to connect and build
equitable and healthy relationships. Founded by CEO Whitney Wolfe
Herd in 2014, the Bumble app is one of the first dating apps built
with women at the center, and the Badoo app, which was founded in
2006, is one of the pioneers of web and mobile dating products.
Bumble currently employs over 600 people in offices in Austin,
Barcelona, London, and Moscow.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include all statements that are not
historical facts. In some cases, you can identify
these forward-looking statements by the use of words such
as “outlook,” “believe(s),” “expect(s),” “potential,”
“continue(s),” “may,” “will,” “should,” “could,” “would,”
“seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),”
“estimate(s),” “anticipates,” “projection,” “will likely result”
and or the negative version of these words or other comparable
words of a future or forward-looking nature. These forward-looking
statements include any statements regarding the commencement of
trading of Bumble’s Class A common stock on the Nasdaq Global
Select Market. Such forward-looking statements are subject to
various risks and uncertainties. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. These
factors include but are not limited to those described under “Risk
Factors” in Bumble’s registration statement relating to the initial
public offering. These factors should not be construed as
exhaustive and should be read in conjunction with the other
cautionary statements that are included in the registration
statement. We undertake no obligation to publicly update or review
any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as required
by law.
Source: Bumble Inc.
Investor Contact
Investor Relationsir@team.bumble.com
Media Contact
press@team.bumble.com
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