Similarweb Ltd. Unveils Major Secondary Offering of Shares
Similarweb Ltd. Launches Significant Secondary Offering
Similarweb Ltd. (“Similarweb”) (NYSE: SMWB), a recognized leader in digital market intelligence, has initiated a notable underwritten public offering. This offering, comprising 3,500,000 ordinary shares, is being facilitated by a selling shareholder. The intention is to empower the market while providing opportunities for investors to tap into the digital analytics domain.
The Offering Details
The selling shareholder plans to extend a 30-day option for underwriters to acquire an additional 525,000 ordinary shares at the public offering price, with deductions for underwriting fees and commissions. It's essential to note that Similarweb will not benefit from any earnings resulting from the sale of the shares.
Role of Underwriters in the Offering
Goldman Sachs & Co. LLC and Barclays are at the forefront as book-running managers for this strategic offering. Additionally, Citizens JMP, William Blair, and Needham & Company have taken on the role of co-managers, showcasing a solid backing for this venture.
Registration and Compliance
On May 10, 2024, a registration statement on Form F-3, documented as File No. 333-279295, was lodged with the United States Securities and Exchange Commission (SEC). This was subsequently declared effective on May 31, 2024. Notably, the Offering is conducted in accordance with this registration statement. A preliminary prospectus supplement and corresponding prospectus that delineate the terms of the Offering have been registered with the SEC, ensuring transparency and compliance.
Engagement and Inquiries Regarding the Offering
For interested parties, copies of the preliminary prospectus supplement and its accompanying documents can be acquired by reaching out to Goldman Sachs & Co. LLC at their New York office or via phone. Similarly, Barclays Capital Inc. also provides avenues for obtaining necessary documentation related to this offering.
Insights on Similarweb
Similarweb provides valuable digital market insights, enabling organizations to thrive in competitive environments. With its tools and analytics capabilities, businesses can identify opportunities, gauge competitive threats, and enhance their strategies for customer acquisition and revenue growth.
Understanding Forward-Looking Statements
This announcement contains forward-looking statements as defined by applicable laws. These statements reflect management's perspections regarding Similarweb's future, including product developments and market strategies. Words indicative of future events, such as “expect,” “anticipate,” and “may,” signal these forward-looking statements.
Risks and Uncertainties
It is imperative to recognize that these forward-looking statements are subject to real-world risks and uncertainties. A variety of known and unknown factors may influence actual outcomes, causing deviations from the projected results. Stakeholders should be prudent about placing reliance on these statements.
Disclaimer on Offers and Solicitation
This announcement serves solely for informational purposes and does not represent an offer or solicitation to purchase or sell any securities or business interests. Additionally, offers or sales in specific jurisdictions may be restricted by applicable laws.
Frequently Asked Questions
What is the purpose of the secondary offering launched by Similarweb?
The secondary offering aims to provide additional shares for sale, allowing investors an opportunity to engage with the company's growth in digital market analytics.
Who are the underwriters for the Similarweb offering?
The primary underwriters for the offering include Goldman Sachs & Co. LLC and Barclays, along with co-managers like Citizens JMP, William Blair, and Needham & Company.
How many shares are included in the offering?
The offering comprises a total of 3,500,000 ordinary shares, with an optional additional 525,000 shares for underwriters.
Is Similarweb expected to gain from this share offering?
No, Similarweb will not receive any proceeds from the sale of the shares by the selling shareholder, as this is a secondary offering.
Where can I find the preliminary prospectus for this offering?
The preliminary prospectus and other related documents can be obtained by contacting the underwriters or through the SEC’s registration filings.
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