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Zillow Announces Exercise Of Underwriters' Option To Purchase Additional Shares

Stocks in this article: Z

SEATTLE, Aug. 22, 2013 (GLOBE NEWSWIRE) -- Zillow, Inc. (Nasdaq:Z), the leading real estate and home-related marketplace, announced today that the underwriters of its recently announced underwritten public offering of Class A common stock have exercised in full their option to purchase additional shares of Class A common stock from Zillow. The underwriters will purchase 753,522 shares from Zillow at $82.00 per share, less the underwriting discount. A total of 3,253,522 shares are being offered by Zillow, and a total of 2,523,486 shares are being offered by certain existing shareholders identified in the prospectus supplement related to the offering. The offering is expected to close, and the shares, including the additional shares, are expected to be delivered, on August 23, 2013, subject to customary closing conditions.

The aggregate net proceeds to Zillow from the offering, including proceeds to be received from the sale of the additional shares, are estimated to be approximately $253.8 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Zillow.

Citigroup is serving as the lead bookrunning manager and representative of the underwriters for the offering. Goldman, Sachs & Co. is serving as a joint bookrunning manager. Allen & Company LLC, Canaccord Genuity, Pacific Crest Securities, and JMP Securities are co-managers for the offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Zillow, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offer will be made only by means of a prospectus, including a prospectus supplement, forming part of an effective shelf registration statement. Copies of the prospectus supplement and accompanying base prospectus may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, telephone: 800-831-9146, or Goldman, Sachs & Co. at 200 West Street, New York, New York 10282, Attention: Prospectus Department, by calling (866) 471-2526 or by e-mailing prospectus-ny@ny.email.gs.com.

Forward-Looking Statements

This news release contains forward-looking statements. Words such as "believes", "anticipates", "plans", "expects", "intend", "will", "goal", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Zillow's current expectations and involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to Zillow's ability to satisfy the closing conditions required for the consummation of the offering and other risks detailed in the shelf registration statement and prospectus supplement related to the offering and in Zillow's filings with the Securities and Exchange Commission, including "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent Quarterly Reports on Form 10-Q. These reports can be accessed under the investors tab of Zillow's website or on the SEC's website at www.sec.gov . Do not place undue reliance on these forward-looking statements, which speak only as of the date of this release. All forward-looking statements are qualified in their entirety by this cautionary statement, and, except where required by law, Zillow undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this news release.

The Zillow logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10012

(ZFIN)

CONTACT: Raymond "RJ" Jones
         Investor Relations
         206.470.7137
         
         Katie Curnutte
         Public Relations
         206-757-2785

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