Instacart (CART) Prices 22M Share IPO at $30/sh

Maplebear Inc. d/b/a "Instacart" (NASDAQ: CART) today announced the pricing of its initial public offering of 22,000,000 shares of its common stock, 14,100,000 of which are being sold by Instacart and 7,900,000 of which are being sold by certain selling stockholders, at a public offering price of $30.00 per share. Instacart will not receive any proceeds from any sale of shares by the selling stockholders. In addition, Instacart has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market on September 19, 2023, under the symbol "CART." The offering is expected to close on September 21, 2023, subject to customary closing conditions.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as lead book-running managers for the offering. BofA Securities, Barclays, and Citigroup are acting as additional book-running managers, and Baird, JMP Securities (A Citizens Company), LionTree, Oppenheimer & Co., Piper Sandler, SoFi, Stifel, Wedbush Securities, Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Stern, and Tigress Financial Partners are acting as co-managers for the offering.

A registration statement related to the shares being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on September 18, 2023. This offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at [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 jurisdiction.

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