Zillow Announces Planned Public Offerings

May 11, 2020
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Experts have suggested that Zillow will come out of the pandemic the strongest in the US market

Backing that up is the recent news that Zillow Group, Inc. is planning to continue its underwritten public offerings of $500 million in shares of its Class C capital stock, as well as $500 million aggregate principal amount of its convertible senior notes due in 2025

Joint managers of the shares and notes offerings include Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets, Inc., and Credit Suisse Securities (USA) LLC.

Zillow pledges to give the underwriters of the shares offering a 30-day option to buy up to an additional $75 million in shares as well as the same option to those purchasing notes. 

The company will use the equity to repurchase a section of its outstanding 2.00% convertible senior notes due in 2021

Zillow has reported that a portion of the net proceeds may go towards expansion through acquisitions, investments, products, or technological innovations

The property portal giant is showing, once again, that it has a plan to combat the negative impact the pandemic has had on its own numbers, as well as on the market as a whole. It recently stated it would restart its iBuying model, Zillow Offers, and it put in place a number of digital solutions to support quarantine orders. All of this and more shows just how secure the company is in its position at the top of the market.

May 11, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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