Trivago, a global hotel search platform backed by Expedia, announced the pricing of its initial public offering of 26,110,118 American depositary shares (ADSs) representing Class A shares of its affiliate, travel B.V.* (the Company) at $11.00 per ADS.
The Company is selling 18,110,091 ADSs, and certain shareholders of the Company are selling 8,000,027 ADSs in the offering. The Company and the selling shareholders have granted the underwriters the option to purchase up to an additional 3,916,517 ADSs at the initial public offering price less the underwriting discount. The ADSs have begun trading on The NASDAQ Global Select Market under the ticker symbol “TRVG” on December 16, 2016. The offering is expected to close on December 21, 2016, subject to customary closing conditions.
J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as lead book-running managers. Allen & Company LLC, BofA Merrill Lynch, Citigroup Global Markets, Inc. and Deutsche Bank Securities Inc. are acting as bookrunners and Cowen and Company, LLC and Guggenheim Securities, LLC are acting as co-managers.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (SEC). 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.
*Filed with the SEC under the name travel B.V., a Dutch limited liability company, formed to be the holding company for trivago. In connection with and prior to the completion of a proposed offering, travel B.V. would change its corporate form and name from travel B.V. to trivago N.V.
The offering will be made only by means of a prospectus.
