2023-09-13 04:31:26 ET
Squarespace ( NYSE: SQSP ) has priced a secondary underwritten public offering of 5M shares of its Class A common stock by General Atlantic at a price to the public of $29 per share, which is barely under the stock's current trading price of $29.98.
The underwriters overallotment is an additional 750K shares of Class A common stock.
The company will not receive any proceeds from the sale of the shares by the selling stockholder.
Shares are down 3.2% PM.
Squarespace attracts a Hold rating from Seeking Alpha's Quant rating system on valuation concerns as opposed to Wall Street analysts Buy rating.
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Squarespace prices a secondary offering of 5M class A common stock