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Bankrate, Inc. Announces Pricing of Secondary Offering
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NEW YORK, Dec. 6, 2011 /PRNewswire/ -- Bankrate, Inc. (the "Company") (NYSE: RATE) today announced the pricing of the public offering of 12,500,000 shares of its common stock by certain of its stockholders at a price of $17.50 per share.  The underwriters were granted a 30-day option to purchase up to 1,875,000 additional common shares from certain selling stockholders at the same price. 

(Logo:  http://photos.prnewswire.com/prnh/20040122/FLTHLOGO )

The selling stockholders will receive all of the net proceeds from the offering.  The Company will not receive any proceeds from the offering.

The offering of common stock may be made only by means of a prospectus.  Goldman, Sachs & Co., BofA Merrill Lynch are the joint bookrunning managers of the offering and representatives of the underwriters.  Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are also bookrunning managers of the offering.  Allen & Company LLC and RBC Capital Markets are co-managers of the offering.  A copy of the final prospectus relating to the offering, when available, may be obtained from Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, email: prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, email: dg.prospectus_requests@baml.com; Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone: 800-831-9146; or J.P. Morgan Securities Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December [6], 2011. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About the Company

Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet. We provide consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The information contained in this release is limited and the Company encourages interested parties to read the Company's Registration Statement on Form S-1 (File No. 333-178132), which is filed with the Securities and Exchange Commission, for more complete information about the Company.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" which involve risks and uncertainties. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "should," "seeks," "approximately," "intends," "plans,"  "estimates," or "anticipates" or similar expressions that relate to our strategy, plans or intentions.  All statements we make relating to our estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results or to our expectations regarding future industry trends are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. These forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those that we expected. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are based upon information available to us on the date of this press release. Important factors that could cause actual results to differ materially from our expectations, which we refer to as cautionary statements, are disclosed under "Risk Factors" and elsewhere in the Company's Registration Statement on Form S-1 (File No. 333-178132) (the "Registration Statement"), which is filed with the Securities and Exchange Commission, including, without limitation, in conjunction with the forward-looking statements included in the Registration Statement. All forward-looking information in this press release and subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements. Some of the factors that we believe could affect our results include: the willingness of our advertisers to advertise on our websites; increased competition and its effect on our website traffic, advertising rates, margins, and market share; our dependence on internet search engines to attract a significant portion of the visitors to our websites; interest rate volatility; technological changes; our ability to manage traffic on our websites and service interruptions; our ability to maintain and develop our brands and content; the fluctuations of our results of operations from period to period; our indebtedness and the effect such indebtedness may have on our business; our need and our ability to incur additional debt or equity financing; our ability to integrate the business and operations of companies that we have acquired, and those we may acquire in the future; the effect of unexpected liabilities we assume from our acquisitions; our ability to attract and retain executive officers and personnel; the impact of resolution of lawsuits to which we are a party; our ability to protect our intellectual property; the effects of facing liability for content on our websites; our ability to establish and maintain distribution arrangements; our ability to maintain good working relationships with our customers and third-party providers and to continue to attract new customers; the effect of our expansion of operations in China and possibly expansion to other international markets, in which we may have limited experience; the willingness of consumers to accept the Internet and our online network as a medium for obtaining financial product information; the strength of the U.S. economy in general; changes in monetary and fiscal policies of the U.S. Government; changes in consumer spending and saving habits; changes in the legal and regulatory environment; changes in accounting principles, policies, practices or guidelines; other risks referenced in the section entitled "Risk Factors" of the Registration Statement; and our ability to manage the risks involved in the foregoing. We caution you that the foregoing list of important factors may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not in fact occur.  Accordingly, investors should not place undue reliance on those statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

For more information, please contact:
Edward J. DiMaria
SVP, Chief Financial Officer
edimaria@bankrate.com
(917) 368-8608

Bruce J. Zanca
SVP, Chief Communications/Marketing Officer
bzanca@bankrate.com
(917) 368-8648

www.bankrate.com

 

SOURCE Bankrate, Inc.