Similarweb Ltd. Launches Notable Secondary Offering
Similarweb Ltd. (“Similarweb”) (NYSE: SMWB), a leading name in digital market intelligence, has kicked off an important underwritten public offering. This offering includes 3,500,000 ordinary shares, made available by a selling shareholder. The goal is to strengthen the market while offering investors a chance to delve into the digital analytics space.
Details of the Offering
The selling shareholder will provide underwriters with a 30-day option to purchase an extra 525,000 ordinary shares at the public offering price, after accounting for underwriting fees and commissions. Importantly, Similarweb will not gain any financial benefits from the sale of these shares.
Underwriters' Role in the Offering
Goldman Sachs & Co. LLC and Barclays are serving as the book-running managers for this strategic initiative. Citizens JMP, William Blair, and Needham & Company are also involved as co-managers, lending strong support to this undertaking.
Registration and Compliance Information
A registration statement on Form F-3, filed under File No. 333-279295, was submitted to the United States Securities and Exchange Commission (SEC) on May 10, 2024. This statement was declared effective on May 31, 2024. It’s noteworthy that the Offering is being carried out under this registration statement. A preliminary prospectus supplement along with the related prospectus that outlines the Offering's terms has been registered with the SEC, ensuring compliance and transparency.
Engagement and Inquiries About the Offering
For those interested, copies of the preliminary prospectus supplement and related documents can be requested at the New York office of Goldman Sachs & Co. LLC or by calling them. Barclays Capital Inc. also offers similar options for obtaining the necessary documentation pertaining to this offering.
About Similarweb
Similarweb delivers essential digital market insights, enabling businesses to excel in competitive landscapes. Through its tools and analytics capabilities, companies can spot opportunities, assess competitive risks, and refine their customer acquisition strategies and revenue generation tactics.
Forward-Looking Statements Explained
This announcement includes forward-looking statements as outlined by relevant laws. These statements reflect the management’s expectations about Similarweb's future, covering areas like product development and market strategies. Terms signifying future events, such as “expect,” “anticipate,” and “may,” indicate these forward-looking statements.
Risks and Uncertainties to Consider
It's crucial to understand that these forward-looking statements are subject to various real-world risks and uncertainties. Numerous known and unknown factors might impact actual outcomes, leading to differences from projected results. Stakeholders should be careful when relying on these statements.
Disclaimer on Offers and Solicitation
This announcement is meant for informational purposes only and does not constitute an offer or solicitation for the purchase or sale of any securities or business interests. Furthermore, offers or sales in certain jurisdictions may be restricted by applicable laws.
Frequently Asked Questions
What is the goal of the secondary offering launched by Similarweb?
The secondary offering's purpose is to provide additional shares for sale, allowing investors to participate in the company's growth within the digital market analytics industry.
Who are the underwriters involved in the Similarweb offering?
The main underwriters for this offering are Goldman Sachs & Co. LLC and Barclays, with co-managers including Citizens JMP, William Blair, and Needham & Company.
How many shares are part of this offering?
This offering consists of 3,500,000 ordinary shares, with an option for underwriters to purchase an additional 525,000 shares.
Will Similarweb benefit financially from this share offering?
No, Similarweb will not receive any proceeds from the selling shareholder's share sale, as this is classified as a secondary offering.
How can I access the preliminary prospectus for this offering?
The preliminary prospectus and additional related documents can be obtained by reaching out to the underwriters or through the SEC’s registration filings.
