HomeAway.com Announces Close of $231 Million IPO, Underwriters Exercise Options

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Vacation home rental site HomeAway, Inc (NASDAQ: AWAY) announced today that they have closed their previously announced initial public offering of shares of its common stock and that the underwriters have fully exercised their option to purchase 1,200,000 additional shares of common stock from selling stockholders.

HomeAway sold 5,931,335 shares, resulting in net proceeds to HomeAway of approximately $148.9 million after deducting underwriting discounts and commissions, and selling stockholders sold 3,268,665 shares, including 1,200,000 shares, as a result of the underwriters' exercise of their option to purchase additional shares, resulting in net proceeds to the selling stockholders of approximately $82.1 million after deducting underwriting discounts and commissions, for total proceeds from the offering of $231.0 million.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering, with Stifel Nicolaus Weisel and Pacific Crest Securities LLC acting as co-managers.

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