Compass Announces Launch of Initial Public Offering
Compass plans to initiate the roadshow for its proposed initial public offering (IPO) of 36,000,000 shares of Class A common stock. The offering, filed with the SEC, is expected to price between $23.00 and $26.00 per share, with an additional 5,400,000 shares available for underwriters. The listing will appear on the NYSE under the ticker COMP. Leading banks for the offering include Goldman Sachs, Morgan Stanley, and Barclays.
- Proposed IPO of 36 million shares at $23-$26 per share could raise significant capital for growth.
- Listing on the NYSE under ticker COMP may enhance company visibility and credibility.
- The offering may lead to shareholder dilution if additional shares are purchased by underwriters.
- Registration statement filed but not yet effective; uncertainty regarding timeline to market.
NEW YORK, March 23, 2021 /PRNewswire/ -- Compass, Inc. (Compass) today announced that it plans to commence the roadshow for its proposed initial public offering of its common stock. Compass has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) to offer 36,000,000 shares of its Class A common stock to the public. In addition, Compass intends to grant the underwriters a 30-day option to purchase up to an additional 5,400,000 shares of its Class A common stock. The initial public offering price is expected to be between
Goldman Sachs & Co. LLC, Morgan Stanley and Barclays Capital Inc. are acting as the lead bookrunning managers for the proposed offering. Deutsche Bank Securities Inc. and UBS Investment Bank are acting as bookrunning managers. Oppenheimer & Co. Inc., Needham & Company, LLC, Zelman Partners LLC, Loop Capital Markets LLC, Academy Securities Inc., Blaylock Van, LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers for the proposed offering.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at 866-471-2526, or by email at prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-888-603-5847 or by email at barclaysprospectus@broadridge.com.
A registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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.
Investor Contact
Ben Barrett
investorrelations@compass.com
Media Contact
Chris O'Brien
press@compass.com
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SOURCE Compass
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