On September 20, 2022, CoStar Group, Inc. (Nasdaq: CSGP) closed its previously announced offering of 10,656,436 shares of its common stock at a price of US$70.38 per share, in conjunction with the inclusion of CoStar’s common stock in the S&P 500 index as of September 19, 2022. Goldman Sachs & Co. LLC and J.P. Morgan acted as joint book-running managers for the offering. CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strategic acquisitions CoStar determines to pursue in the future, to finance the growth of its business and for working capital and other general corporate purposes.
Latham & Watkins LLP represented CoStar in the offering with a capital markets deal team led by Washington, D.C. partners Jason Licht, Shagufa Hossain, and Julia Thompson and Washington, D.C. counsel Jonathan Drory, with associates Jessica Lennon and Kaan Ulgen. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson.