WASHINGTON, June 2, 2014 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP) ("CoStar") announced it has commenced a public offering of 2,000,000 shares of its common stock. CoStar expects to grant the underwriters in the offering a 30-day option to purchase up to an additional 300,000 shares of its common stock. J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as joint-bookrunning managers for the offering, with Needham & Company, Stephens Inc., William Blair, JMP Securities and B. Riley & Co. acting as co-managers. CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strategic acquisitions it determines to pursue in the future, to finance the growth of its business and for working capital and other general corporate purposes.
The shares are being offered pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission ("SEC"). A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov . Copies of the prospectus supplement relating to the offering may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone at (866) 471-2526, facsimile at (212) 902-9316 or by emailing firstname.lastname@example.org.
This news 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. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.