Airbnb, Inc. today announced the pricing of its initial public offering of 51,323,531 shares of Class A common stock, 50,000,000 of which are being sold by Airbnb and 1,323,531 of which are being sold by certain selling stockholders, at a public offering price of $68.00 per share. In addition, Airbnb has granted the underwriters a 30-day option to purchase up to an additional 5,000,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.
Airbnb's Class A common stock is expected to begin trading on the Nasdaq Global Select Market on December 10, 2020, under the ticker symbol "ABNB."
The gross proceeds from the offering to Airbnb, before deducting underwriting discounts and commissions and other offering expenses payable by Airbnb, are expected to be approximately $3.4 billion, excluding any exercise of the underwriters' option to purchase additional shares. Airbnb will not receive any proceeds from the sale of shares by the selling stockholders. The offering is expected to close on December 14, 2020, subject to the satisfaction of customary closing conditions.
Morgan Stanley, Goldman Sachs & Co. LLC and Allen & Company LLC are acting as lead book-running managers for the offering. BofA Securities, Barclays and Citigroup are acting as book-running managers. BNP PARIBAS, Mizuho Securities, Credit Suisse, Deutsche Bank Securities, Jefferies and Wells Fargo Securities are acting as joint book-running managers. Baird, Canaccord Genuity, Cowen, D.A. Davidson & Co., JMP Securities, KeyBanc Capital Markets, Needham & Company, Oppenheimer & Co., Piper Sandler, Raymond James, Stifel, Wedbush Securities, William Blair, Academy Securities, Blaylock Van, LLC, CastleOak Securities, L.P., C.L. King & Associates, Guzman & Company, Loop Capital Markets, MFR Securities, Inc., Mischler Financial Group, Inc., Ramirez & Co., Inc., Siebert Williams Shank, Telsey Advisory Group and Tigress Financial Partners are acting as co-managers for the offering.
A registration statement relating to the shares being sold in this offering was filed with the Securities and Exchange Commission and became effective on December 9, 2020. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; Allen & Company LLC, Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, by telephone at (212) 339-2220, or by email at allenprospectus@allenco.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or via email: dg.prospectus_requests@bofa.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146.
