HomeAway Announces Proposed Follow-On Offering

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HomeAway, Inc. (NASDAQ: ), the world's leading online marketplace for vacation rentals, today announced it plans to commence, subject to market and other conditions, an underwritten public offering of 5,500,000 shares of its common stock pursuant to an effective registration statement. An additional 518,630 shares will be offered by the selling stockholders.  In addition, the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 902,794 shares to cover over-allotments, if any.

HomeAway intends to use the net proceeds of this offering for general corporate purposes, which may include acquisitions or license of, or investment in, products, services, technologies or other businesses.  HomeAway will not receive any proceeds from the sale of shares by the selling stockholders.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC will serve as joint book-running managers for the proposed offering. Stifel, Nicolaus & Company and Pacific Crest Securities LLC, Incorporated will act as co-managers.  

The offering of these securities will be made only by means of a registration statement (including a preliminary prospectus for the offering) filed with the U.S. Securities and Exchange Commission on December 10, 2013.  Copies of the preliminary prospectus may be obtained from: Deutsche Bank Securities Inc. at 60 Wall Street, Attention: Prospectus Group, New York, NY 10005-2836, by email at prospectus.CPDG@db.com or by phone at (800) 503-4611; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204; Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, or by phone at (866) 471-2526; or Morgan Stanley & Co. LLC, Attention Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by email at prospectus@morganstanley.com, or by phone at (866) 718-1649.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Cautionary Statement

This press release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding HomeAway’s completion of the offering and the number of securities sold, and HomeAway’s anticipated use of proceeds. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause actual results and the timing of events to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: risks related to market and other general economic conditions, our ability to meet the closing conditions required for the consummation of the offering and other risks detailed in the registration statement related to the offering and in filings we make with the SEC from time to time, particularly under the heading "Risk Factors." All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

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