Marcus & Millichap, Inc. Prices Initial Public Offering

Business Wire

CALABASAS, Calif.--(BUSINESS WIRE)--

Marcus & Millichap, Inc. (the “Company”) today announced its initial public offering of 6,000,000 shares of its common stock at a price to the public of $12.00 per share. The shares will begin trading on October 31, 2013, on the New York Stock Exchange under the ticker symbol “MMI.” Of the shares in the offering, 2,726,587 shares are being offered by Marcus & Millichap, Inc. and 3,273,413 shares are being offered by selling stockholders. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock on the same terms and conditions.

Total net proceeds to the Company from the offering, after deducting the underwriting discount and estimated offering expenses, will be approximately $34.6 million. The Company intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures and working capital to expand its services and potential acquisitions of real estate businesses or companies. The Company will not receive any proceeds from the sale of shares by the selling stockholders.

Upon the completion of the initial public offering, Marcus & Millichap Real Estate Investment Services, Inc. will be a wholly owned subsidiary of Marcus & Millichap, Inc.

Citigroup and Goldman, Sachs & Co. are acting as joint book runners for the offering. JMP Securities and William Blair are acting as lead managers.

A registration statement related to these securities has been declared effective by the Securities and Exchange Commission. This offering of these securities is being made only by means of a prospectus. A copy of the prospectus for the offering, when available, may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at batprospectusdept@citi.com, or by calling toll-free at 1-800-831-9146; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, by emailing prospectus-ny@ny.email.gs.com, or by calling toll-free at 1-866-471-2526.

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

With more than 1,100 investment and financing professionals in offices nationwide, Marcus & Millichap is one of the largest firms specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, with value of approximately $22 billion.

Contact:
Investor Relations Contact:
Addo Communications
Lasse Glassen, 424-238-6249
lasseg@addocommunications.com

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