Seeking Alpha

HomeAway announces 6.02M-share stock offering; shares -4.7% AH

  • HomeAway (AWAY) is issuing 5.5M new shares through its offering, and selling 519K on behalf of existing stockholders. Underwriters will have a 903K-share overallotment option. (PR)
  • At current levels, the offering would yield HomeAway gross proceeds of $201M. Those funds will help pay for the company's $198M all-cash purchase of Australian vacation rental site owner Stayz Group.
  • HomeAway ended Q3 with $352.6M in cash/investments on its balance sheet, and no debt.
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