Bumble Inc. Prices $2.2 Billion IPO
AUSTIN, Texas, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Bumble Inc. announced today the pricing of its initial public offering of 50,000,000 shares of its Class A common stock at a price to the public of $43.00 per share. Bumble has granted the underwriters a 30-day option to purchase up to an additional 7,500,000 shares of Class A common stock. The shares are expected to begin trading on the Nasdaq Global Select Market on February 11, 2021 under the symbol “BMBL”.
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 41 million shares (or 48.5 million shares if the underwriters exercise in full their option to purchase additional shares of Class A common stock) to purchase or redeem an equivalent aggregate number of outstanding equity interests from certain entities affiliated with Blackstone. The offering is expected to close on February 16, 2021, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Citigroup are acting as joint lead book-running managers and as representatives of the underwriters for the offering. Morgan Stanley and J.P. Morgan are acting as joint book-running managers for the offering. Jefferies, RBC Capital Markets and Evercore ISI are acting 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 are acting as co-managers for the offering.
The offering of these securities is being made only by means of a prospectus. When available, 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: firstname.lastname@example.org; 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.
A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission. 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.
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.
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. These forward-looking statements include any statements regarding the commencement of trading of Bumble’s Class A common stock on the Nasdaq Global Select Market. 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.