Bumble Inc. Closes $2.5 Billion IPO and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Bumble Inc. has successfully closed its IPO, issuing 57.5 million shares of Class A common stock at $43.00 per share. The offering included a full exercise of underwriters' options for an additional 7.5 million shares. Proceeds will be used to repay senior secured term loans and purchase outstanding equity interests from Blackstone. The stock is listed under the symbol BMBL on Nasdaq. Goldman Sachs and Citigroup led the offering, with several other firms participating as book-running managers.

Positive

• Successfully closed IPO raising funds at $43.00 per share.
• Funds will be used to repay senior secured term loans.
• Intends to buy back equity interests from Blackstone.

Negative

• None.

AUSTIN, Texas, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Bumble Inc. announced today that it has closed its initial public offering of 57,500,000 shares of its Class A common stock at a price to the public of $43.00 per share, including the full exercise by the underwriters of their option to purchase up to an additional 7,500,000 shares of Class A common stock.

Bumble intends to use the proceeds (net of underwriting discounts) from the issuance of 9 million shares to repay a portion of its senior secured term loan facilities and for general corporate purposes, and to bear the expenses of the offering. Bumble intends to use the proceeds (net of underwriting discounts) from the issuance of 48.5 million shares to purchase or redeem an equivalent aggregate number of outstanding equity interests from certain entities affiliated with Blackstone. Bumble’s Class A common stock is listed on the Nasdaq Global Select Market under the symbol “BMBL”.

Goldman Sachs & Co. LLC and Citigroup served as joint lead book-running managers and as representatives of the underwriters for the offering. Morgan Stanley and J.P. Morgan acted as joint book-running managers for the offering. Jefferies, RBC Capital Markets and Evercore ISI acted as joint book-runners for the offering. Blackstone Capital Markets, BMO Capital Markets, Cowen, Raymond James, Stifel, BTIG, Nomura, SMBC Nikko, AmeriVet Securities, C.L. King & Associates, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Siebert Williams Shank and Telsey Advisory Group acted as co-managers for the offering.

A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission on February 10, 2021. The offering of these securities was made only by means of a prospectus. Copies of the prospectus relating to the initial public offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (866)-471-2526, facsimile: 212-902-9316, email: prospectus-ny@ny-email.gs.com; or Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (800) 831-9146.

This press 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.

About Bumble

Bumble Inc. is the parent company of Badoo and Bumble, two of the world’s highest-grossing dating apps with millions of users worldwide. The Bumble platform enables people to connect and build equitable and healthy relationships. Founded by CEO Whitney Wolfe Herd in 2014, the Bumble app is one of the first dating apps built with women at the center, and the Badoo app, which was founded in 2006, is one of the pioneers of web and mobile dating products. Bumble currently employs over 600 people in offices in Austin, Barcelona, London, and Moscow.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe(s),” “expect(s),” “potential,” “continue(s),” “may,” “will,” “should,” “could,” “would,” “seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),” “anticipates,” “projection,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Risk Factors” in Bumble’s registration statement relating to the initial public offering. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the registration statement. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Source: Bumble Inc.

Investor Contact

Investor Relations
ir@team.bumble.com

Media Contact

press@team.bumble.com

FAQ

What is the price per share for Bumble's IPO?

Bumble's IPO price per share was $43.00.

How many shares did Bumble issue in its IPO?

Bumble issued a total of 57.5 million shares in its IPO.

What will Bumble do with the IPO proceeds?

The proceeds will be used to repay loans and buy back equity interests from Blackstone.

Which underwriters managed Bumble's IPO?

Goldman Sachs and Citigroup were the lead underwriters, with several others participating.

Where is Bumble's stock listed?

Bumble's stock is listed on the Nasdaq under the symbol BMBL.