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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