Pinterest Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares

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    SAN FRANCISCO–(BUSINESS WIRE)–Pinterest, Inc. (NYSE: PINS) (“Pinterest”) today announced that the
    underwriters of its initial public offering exercised in full their
    option to purchase an additional 11,250,000 shares of Class A common
    stock at the initial public offering price of $19.00, less underwriting
    discounts. A total of 86,250,000 shares of Class A common stock have now
    been sold by Pinterest in the offering, including 75,000,000 shares of
    Class A common stock that closed on April 23, 2019.

    Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Allen & Company
    LLC served as lead joint book-running managers for the offering. BofA
    Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc.,
    Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and
    RBC Capital Markets, LLC. also acted as book-running managers for the
    offering. Robert W. Baird & Co. Incorporated, UBS Securities LLC and
    Wells Fargo Securities, LLC served as co-managers for the offering.

    A registration statement relating to this offering was declared
    effective by the Securities and Exchange Commission on April 17, 2019.
    The offering was made only by means of a prospectus, copies of which may
    be obtained from: Goldman Sachs & Co. LLC, Prospectus Department, 200
    West Street, New York, NY 10282, telephone: 1-866-471-2526 or by
    emailing [email protected];
    J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
    Long Island Avenue, Edgewood, NY 11717, phone: 866-803-9204, email: [email protected];
    or Allen & Company, Prospectus Department, 711 Fifth Avenue, 10th Floor,
    New York, NY 10022, email: [email protected].

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

    About Pinterest

    Pinterest is a visual discovery engine that more than 250 million people
    use every month to find inspiration for their lives—ideas ranging from
    dinner recipes, to home decor, to new outfits. People have saved more
    than 175 billion Pins across thousands of interests, which others can
    discover with search tools and personalized recommendations.

    Cautionary Statement Regarding Forward-Looking Statements

    Any statements made in this press release that do not relate strictly to
    historical or current facts are forward-looking statements that reflect
    Pinterest’s current plans, beliefs, expectations and current views with
    respect to future events. Forward-looking statements involve known and
    unknown risks, uncertainties, assumptions and other important factors
    that could cause Pinterest’s actual results, performance or achievements
    to differ materially from historical results or any future results,
    performance or achievements expressed, suggested or implied by the
    forward-looking statements. Certain of these risks and uncertainties are
    described in Pinterest’s registration statement on Form S-1 filed with
    the SEC, including under the headings of “Risk Factors” and “Cautionary
    Note Regarding Forward-Looking Statements” in the registration
    statement. Forward-looking statements made in this press release speak
    only as of the date of this press release, and Pinterest undertakes no
    obligation to update them in light of new information or future events,
    except as required by law.


    Mike Mayzel
    [email protected]

    Jane Penner
    [email protected]