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Fenwick Represents Underwriters in Zillow Group’s $987.4 Million Concurrent Public Offerings of Stock and Convertible Notes

May 19, 2020

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Fenwick represented the underwriters in concurrent public offerings for Zillow Group, Inc. (NASDAQ: ZG). The offerings consisted of both 8,000,000 shares of its Class C capital stock at a price to the public of $48.00 per share and $500 million aggregate principal amount of its 2.75% convertible senior notes due 2025. The underwriters of the shares offering also partially exercised their option to purchase an additional 800,000 shares and the underwriters of the notes offering partially exercised their option to purchase an additional $65,000,000 aggregate principal amount of the notes.

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Morgan Stanley & Co. LLC; Goldman Sachs & Co. LLC; Citigroup Global Markets, Inc.; and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the equity offering and the notes offering. Craig-Hallum Capital Group LLC and D.A. Davidson & Co. acted as co-managers for the equity offering and the notes offering.

Zillow Group is one of the largest portfolio of real estate brands on mobile and the web. More information about the offerings can be obtained from the company’s announcement.

The Fenwick transaction team included corporate partner Jamie Evans and associates Katherine Duncan, Chelsea Anderson, Lillian Icard, Amy Zhang, Ben Toussant and Sloka Tankala; and tax partner William Skinner and associate Ora Grinberg.

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