Business Services Industry
The Knot Announces Pricing of Public Offering
Business Wire, August 10, 2006
NEW YORK -- The Knot, Inc. (NASDAQ: KNOT, www.theknot.com), a leading lifestage media company targeting couples planning their weddings and future lives together, today announced that its previously announced public offering of shares of common stock has been priced at $16.00 per share. The offering consists of 6,350,000 shares of common stock. The Knot is selling 2,000,000 shares of common stock, and selling stockholders are selling the remaining 4,350,000 shares. In addition, The Knot has granted the underwriters an option to purchase up to 952,500 additional shares from it at the public offering price to cover over-allotments, if any. The company will not receive any of the proceeds from the sale of shares by the selling stockholders.
Related Results
Deutsche Bank Securities is serving as sole book runner, with Allen & Company LLC, JPMorgan and Roth Capital Partners serving as co-managers for the offering.
About The Knot, Inc.
The Knot, Inc. (NASDAQ: KNOT; www.theknot.com) is a leading lifestage media and services company. The Company's flagship brand, The Knot, is the nation's leading wedding resource that reaches over 1 million engaged couples each year through the Web, newsstands, bookstores, national television and more. Its award-winning website, TheKnot.com, is the most-trafficked online wedding destination. The Company also offers a diverse collection of print publications including national and regional editions of "The Knot Weddings" magazine, seven books, a popular TV series on The Oxygen Network, a Video On Demand (VOD) service for Comcast Cable and content distribution partnerships with MSN and Comcast. The Knot, Inc. has recently launched several brands targeted before and beyond the wedding day, including newlywed resource The Nest (www.thenest.com), teen site PromSpot.com, and online personals site, GreatBoyfriends.com. The Knot, Inc. is based in New York and has several other offices across the country.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements regarding future events or the future financial performance of The Knot. These statements, which are usually accompanied by word such as "may", will", "could", "intends" and "expects", are only predictions and reflect the current beliefs and expectations of The Knot. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, among others, (i) the risk that the proposed merger with WeddingChannel.com, Inc. may not be approved by the stockholders of WeddingChannel or that the necessary regulatory approvals are not obtained, (ii) the risk that other closing conditions of the merger may not be satisfied, (iii) the risk that the two companies' businesses will not be integrated successfully and (iv) the significant costs related to the proposed merger. In addition, other factors relating solely to The Knot's business could cause actual events or results to differ materially from the forward-looking statements contained herein including, among others, (i) The Knot's unproven business model, (ii) The Knot's history of significant losses, (iii) the significant fluctuation to which The Knot's quarterly revenues and operating results are subject, (iv) the risks and related costs associated with ongoing litigation, (v) the seasonality of the wedding industry and (vi) other factors detailed in documents The Knot files from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
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