FILED PURSUANT TO RULE 424 (B) (3)
REGISTRATION NUMBER 333-60686
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PROSPECTUS SUPPLEMENT DATED MARCH 28, 2002
TO PROSPECTUS DATED JULY 6, 2001 OF LENDINGTREE, INC.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
March 28, 2002 (March 28, 2002)
LENDINGTREE, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 25-1795344
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(State or other jurisdiction 000-29215 (I.R.S. Employer
of incorporation) Commission File Number Identification Number)
11115 RUSHMORE DRIVE
CHARLOTTE NC 28277
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(Address of principal executive offices) (Zip code)
(704) 541-5351
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On March 28, 2002 LendingTree, Inc. announced institutional investors
acquired 2.75 million shares of LendingTree common stock from two early
investors who also signed agreements not to sell additional LendingTree
shares for a period of 120 days. See Exhibit 99, herein, for further
details.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired - Not Applicable
(b) Pro forma financial information - Not Applicable
(c) Exhibits
99 Press Release of LendingTree, Inc. March 28, 2002.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: March 28, 2002 By: /s/ Keith B. Hall
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Keith B. Hall, Senior Vice
President, Chief Financial
Officer and Treasurer
EXHIBIT 99
Contacts:Keith Hall Brian Regan Deborah Roth
LendingTree LendingTree LendingTree
(704) 944-8580 (704) 944-8531 (704) 944-8571
khall@lendingtree.com bregan@lendingtree.com droth@lendingtree.com
INSTITUTIONAL INVESTORS ACQUIRE 2.75 MILLION SHARES OF
LENDINGTREE COMMON STOCK
CHARLOTTE, N.C., MARCH 28, 2002 - LendingTree(R), Inc. (NASDAQ: TREE),
the leading online lending exchange and technology provider, confirmed
reports that two of the Company's early investors independently sold
portions of their holdings, totaling 2.75 million common shares, to
several institutional investors. The transactions were brokered
separately by Allen & Company, who acted as agent for each of the
selling shareholders, which included Specialty Finance Partners, an
affiliate of Capital Z Financial Services Fund II, L.P.
The selling shareholders entered into lock-up agreements with the
Company in which they generally agreed not to sell any additional shares
of LendingTree stock, without the Company's consent, until at least
August 9, 2002.
Robert Spass, Partner of Capital Z, stated, "We have been extremely
pleased with LendingTree's performance to date and continue to believe
in the strength of the Company's business model, as evidenced by our
remaining substantial investment in LendingTree." The Company confirmed
that Capital Z remains its largest shareholder and continues to own more
than six million common and preferred shares, representing approximately
23% of the Company's total shares.
ABOUT LENDINGTREE, INC.
Founded in 1996, LendingTree (NASDAQ: TREE) is the leading online lending
Exchange that connects consumers, Lenders, and related service providers.
The LendingTree Exchange is made up of more than 140 banks, lenders, and
brokers (Lenders) and has facilitated nearly $18 billion in closed loans
since inception. Millions of consumers have accessed the LendingTree
Exchange though the Company's site at www.lendingtree.com and through
online and offline partners. Loans available via the LendingTree Exchange
include home mortgage, home equity, automobile, personal, debt
consolidation, and credit cards. LendingTree is the No. 1 brand in the
online lending market for consumers, with 59 percent national awareness.
The LendingTree Lend-X technology has been cited as `the platform of
choice'1 for online lending and has been adopted by industry leaders to
power their online lending initiatives. The LendingTree RealtyServices
offering connects consumers to a nationwide network of approximately
7,000 real estate professionals. The Company's services and products are
specifically designed to empower consumers, Lenders, and related service
providers throughout the lending process, on and offline, delivering
convenience, choice, and excellent value.
1 Resuscitating Mortgage Lending. Forrester Research, March 2001
ABOUT CAPITAL Z
The Capital Z Financial Services Fund II, LP (CZF II) is a $1.84 billion
private equity fund that focuses exclusively on investments in the
financial services industry. Since 1990, CZF II and its predecessor funds
have invested in excess of $2 billion in approximately 50 transactions,
making it the largest, specialized private equity investor focused on the
financial services industry. Founded in 1998, the Fund is run by seven
partners, and is managed by Capital Z Partners, LLC, a global alternative
asset management organization with offices in New York, London and Hong
Kong.
This press release contains forward-looking statements within the meaning
of the "Safe Harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Forward- looking statements include statements
regarding projected future revenues, EBITDA, net income/loss, and our
business outlook. These statements are based on management's current
expectations or beliefs and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
those set forth in the forward looking statements. The Company's actual
results might differ materially from those stated or implied by such
forward-looking statements due to risks and uncertainties associated with
the Company's business, which include, but are not limited to: variations
in consumer demand or acceptance; the willingness of lending institutions
to offer their products over the Internet; further changes in the
Company's relationships with existing banks, lender, and brokers
(Lenders), companies, and/or strategic partners; the Company's ability to
attract and integrate new lending companies and strategic partners;
implementation of competing Internet strategies by existing and potential
lending participants; implementation and acceptance of new product or
service offerings, consumer lending industry regulation; competition in
all aspects of the Company's business; fluctuations in operating results;
or other unforeseen factors. The forward-looking statements should be
considered in the context of these and other risk factors disclosed in
the Company's filings with the Securities and Exchange Commission.
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