Match Group Announces Pricing of Registered Direct Offering
On September 23, 2021, Match Group (NASDAQ: MTCH) announced a Registered Direct Offering of its common stock, with pricing based on a five-day volume-weighted average price, expected to close on October 4, 2021. The proceeds will primarily fund the repurchase of 0.875% exchangeable senior notes due 2022 through private negotiations. J.P. Morgan Securities LLC is acting as the exclusive placement agent. The offering is not a solicitation to sell or buy securities in unlawful jurisdictions.
- Funds raised will support the repurchase of existing exchangeable senior notes, potentially strengthening the balance sheet.
- Shares issued in the Registered Direct Offering may lead to shareholder dilution.
- Market reaction to offering details could negatively impact stock performance.
DALLAS, Sept. 23, 2021 /PRNewswire/ -- Match Group (NASDAQ: MTCH) announced today that it has agreed to sell shares of its common stock (the "Shares") in a registered direct offering (the "Registered Direct Offering"). The price per share and the number of shares of common stock to be issued will be determined based upon a volume-weighted average price per share of common stock during a five (5) day averaging period commencing September 24, 2021. The Registered Direct Offering is expected to close on October 4, 2021.
Match Group intends to use the proceeds of the Registered Direct Offering, together with the net proceeds of its concurrent termination of certain note hedges and warrant transactions and a portion of the net proceeds of the concurrent notes offering by its indirect wholly owned subsidiary, Match Group Holdings II, LLC, to repurchase
J.P. Morgan Securities LLC will act as the exclusive placement agent for the Registered Direct Offering. The Registered Direct Offering was made only by means of a prospectus supplement relating to the Registered Direct Offering and accompanying base prospectus previously filed with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or, upon request, 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 by email at prospectus-eq_fi@jpmorganchase.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Match Group
Match Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of digital technologies designed to help people make meaningful connections. Our global portfolio of brands includes Tinder®, Match®, Meetic®, OkCupid®, Hinge®, Pairs™, PlentyOfFish®, OurTime®, Azar®, Hakuna Live™, and more, each built to increase our users' likelihood of connecting with others. Through our trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world.
Forward-Looking Statements
This press release contains forward-looking statements regarding the future performance of Match Group, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, Match Group's ability to consummate the transactions described herein. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Match Group are contained in its filings with the SEC, including its reports on Forms 10-K, 10-Q and 8-K. Match Group undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SOURCE Match Group
FAQ
What is the purpose of Match Group's Registered Direct Offering on September 23, 2021?
What is the expected closing date for Match Group's share offering?
Who is the placement agent for Match Group's Registered Direct Offering?
Could Match Group's offering lead to shareholder dilution?
