LendingTree Announces Commencement of Common Stock Offering

Nov 02, 2015, 06:14 ET from LendingTree, Inc.

CHARLOTTE, N.C., Nov. 2, 2015 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE) (the "Company"), a leading online loan marketplace, announced today that it has commenced, subject to market and other conditions, an underwritten public offering of 850,000 shares of its common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.  The Company proposes to issue and sell 725,000 shares of its common stock and a selling stockholder proposes to offer and sell 125,000 shares in the underwritten public offering.  In connection with the offering, the Company expects to grant the underwriters an option for a period of 30 days to purchase up to an additional 127,500 shares of common stock.

The Company expects to use the net proceeds from the offering for general corporate purposes, including, but not limited to, working capital and potential acquisitions. The Company will receive no proceeds from the offer and sale of shares by the selling stockholder.

BofA Merrill Lynch, RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. will serve as joint book-running managers for the offering.  Guggenheim Securities, Needham & Company and Stephens Inc. are acting as co-managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, 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 is being made only by means of a prospectus and related prospectus supplement. Copies of the prospectus and the related preliminary prospectus supplement may be obtained free of charge from the Securities and Exchange Commission's website at www.sec.gov or by contacting any of the joint book-running managers, including:  BofA Merrill Lynch, 222 Broadway, New York, NY 10038, attention:  Prospectus Department, or e-mail dg.prospectus_requests@baml.com; RBC Capital Markets, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281 or by telephone at 877-822-4089 or by email at equityprospectus@rbccm.com; or SunTrust Robinson Humphrey, Inc., Attn: Prospectus Department, 3333 Peachtree Rd., NE, Atlanta, GA 30326 or by telephone at 404-926-5744 or by e-mail at STRH.Prospectus@SunTrust.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

The matters contained in the discussion above may be considered to be "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, as amended. Those statements include statements regarding the intent, belief or current expectations or anticipations of the Company and members of its management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: adverse conditions in the United States or global capital markets; adverse conditions in the primary and secondary mortgage markets and in the economy, particularly interest rates; willingness of lenders to make unsecured personal loans and purchase leads for such products from the Company; seasonality of results; potential liabilities to secondary market purchasers; changes in the Company's relationships with network lenders; breaches of network security or the misappropriation or misuse of personal consumer information; failure to provide competitive service; failure to maintain brand recognition; ability to attract and retain customers in a cost-effective manner; ability to develop new products and services and enhance existing ones; competition; allegations of failure to comply with existing or changing laws, rules or regulations, or to obtain and maintain required licenses; failure of network lenders or other affiliated parties to comply with regulatory requirements; failure to maintain the integrity of systems and infrastructure; liabilities as a result of privacy regulations; failure to adequately protect intellectual property rights or allegations of infringement of intellectual property rights; and changes in management.  These and additional factors to be considered are set forth under "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended December 31, 2014, Quarterly Reports on Form 10-Q for the periods ended June 30, 2015 and September 30, 2015  and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.

About LendingTree, Inc.

LendingTree, Inc. operates a leading online loan marketplace and provides consumers with an array of online tools and information to help them find the best loans for their needs. The Company's online marketplace connects consumers with multiple lenders that compete for their business, empowering consumers as they comparison-shop across a full suite of loans and credit-based offerings. The Company provides access to lenders offering home loans, home equity loans/lines of credit, reverse mortgages, personal loans, auto loans, small business loans, credit cards, student loans and more.

LendingTree, Inc. is headquartered in Charlotte, NC and maintains operations solely in the United States.

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SOURCE LendingTree, Inc.