During Zillow's second-quarter earnings call, TheStreet asked Rascoff about doing a follow on offering, considering the stock price had run up sharply prior to the release. CEO Rascoff said the company had "nothing to announce right now in terms of a follow on offering."
Zillow's share price has soared since the start of the year, as the real estate market has come back sharply off the lows and continues to be a positive point in the economy. Shares are up 228.7% year-to-date, drastically outperforming the 19.3% gain in the Nasdaq.
Citigroup is the leading bookrunning on the offering, with Goldman Sachs acting as the joint bookrunning manager. Allen & Company, Canaccord Genuity, Pacific Crest Securities, and JMP Securities are co-managers of the offering. The underwriters will have a 30-day option to purchase up to an additional 753,522 shares.--Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV