Squarespace (NYSE: SQSP), a NYC-based provider of a design-driven platform helping entrepreneurs build brands and businesses online, entered into a definitive agreement to go private by Permira, the global private equity firm, in an all-cash transaction valued at approximately $6.9 Billion.
Under the terms of the agreement, Squarespace stockholders will receive $44.00 per share in cash representing a transaction valued at over $6.6 Billion on an equity value basis and approximately $6.9 Billion on an enterprise value basis. The purchase price represents a premium of approximately 29% over Squarespace’s 90-day volume weighted average trading price, and a premium of 15% over Squarespace’s closing share price of $38.19 on the NYSE on May 10, 2024.
Upon completion of the transaction, Squarespace will become a privately held company.
Anthony Casalena will roll over a substantial majority of his existing equity and continue to be one of the largest shareholders following this transaction. He will continue to serve as Squarespace’s CEO and Board Chairman, and lead the business in all aspects of its operations, along with Squarespace’s current leadership team, who are expected to continue their roles following the close of the transaction.
Squarespace is a design-driven platform for entrepreneurs across more than 200 countries and territories to create their online presence, build an audience, monetize, and scale their business. Its suite of products range from websites, domains, ecommerce, and marketing tools, as well as tools for scheduling with Acuity, creating and managing social media presence with Bio Sites and Unfold, and hospitality business management via Tock.
FinSMEs
13/05/2024