WASHINGTON, June 9, 2014 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP) ("CoStar") today announced that the underwriters have exercised their option to purchase an additional 450,000 shares of CoStar's common stock at $160.00 per share, in addition to the 3,000,000 shares of CoStar common stock, which were purchased on June 5, 2014. J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, SunTrust Robinson Humphrey and Wells Fargo Securities acted as joint-bookrunning managers for the offering. Needham & Company, Stephens Inc., William Blair, JMP Securities and B. Riley & Co. acted 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 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 and accompanying prospectus relating to the offering, when available, 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 email@example.com.
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.