Match Group, which owns a group of internet dating sites that includes Tinder, says it will sell 33.3 million shares of its common stock at $12 a share.
The shares are expected to begin trading on the NASDAQ tomorrow,Â November 19, under the ticker symbol “MTCH.”
J.P. Morgan Securities LLC, Allen & Company LLC, and Bank of America Merrill Lynch are acting as the lead bookrunning managers, Match Group said. Deutsche Bank Securities, BMO Capital Markets, Barclays, and BNP ParibasÂ also acted asÂ bookrunners for the offering.
Match Group said it gaveÂ itsÂ underwriters a 30-day option to purchase an additional 5 million shares at the sameÂ price, less underwriting discounts and commissions.
The group filed papers to go public October 16th. The filing stated that Match Group was hoping to raise at least $100 million in the IPO.
Match Group owns more thanÂ 45 dating site brands, including Match, OkCupid, Tinder, Meetic, Twoo, OurTime, BlackPeopleMeet, and FriendScout24. The group says it has dating sites available inÂ 38 languages across more than 190 countries. It also owns The Princeton Review, which provides test preparation, academic tutoring, and college counseling services.
TheÂ group caters toÂ roughly 59Â million monthly active users, 4.7Â million of whom are paidÂ users. ItsÂ products also seem to be striking a chord with younger users; more thanÂ 60 percent of its users identified as under 35 years old.
That’s also the main demographic addressed by its most high-profile site, Tinder. Tinder CEO Sean Rad broke the quiet period before the IPOÂ when he gave an unfortunate interview to theÂ Evening Standard Wednesday.