Thryv Holdings Expands Public Offering of Common Stock
Thryv Holdings, Inc. (NASDAQ: THRY) recently announced the pricing details for its upsized public offering of common stock. The company plans to sell 5,715,000 shares at a public offering price of $14.00 each, aiming to generate approximately $80 million in gross proceeds before underwriter fees and expenses. This strategic move is expected to strengthen Thryv's financial position significantly.
The Purpose Behind the Offering
The net proceeds from this stock offering will be utilized to facilitate part of the purchase price for Thryv's acquisition of Infusion Software, Inc., known as Keap. This acquisition represents a significant step forward for Thryv, allowing it to enhance its small business software services.
Closing and Management of the Offering
The offering is anticipated to conclude around the end of October 2024, contingent upon the fulfillment of customary closing conditions. RBC Capital Markets, LLC is appointed as the sole book-running manager for this public offering, establishing itself as a key player in executing the sale effectively.
Stock Sales Procedures
RBC Capital Markets will have the ability to sell shares of common stock in various markets. This includes transactions on the Nasdaq exchange, over-the-counter sales, negotiated transactions, and more. The prices for these shares will depend on prevailing market conditions at the time of sale.
Understanding the Offering Process
The stock offering is being executed under Thryv’s effective shelf registration statement using Form S-3ASR, in accordance with the Securities Act of 1933, as amended. Potential investors are encouraged to review the preliminary prospectus supplement along with the accompanying prospectus, which outlines the details of the offering.
Accessing Offering Documents
Both the preliminary prospectus supplement and the accompanying prospectus are available for interested parties. These documents can provide vital information regarding the company's plans and the opportunity presented by this offering. Copies can also be requested from RBC Capital Markets, LLC, based in New York City.
About Thryv Holdings
Thryv is designed to be a one-stop software solution for small businesses, helping them streamline operations and improve customer communication. With their robust platform, business owners gain immediate access to tools that can save them substantial time each week. Thryv's service include various centers, like Thryv Command Center, Business Center™, and Marketing Center™, catering to approximately 300,000 businesses worldwide.
Future Prospects and Business Growth
The offering signifies Thryv's commitment to growth and advancement within the small business sector. By acquiring Keap, Thryv is expected to bolster its already impressive capabilities, enhancing the service experience for its clients. This acquisition will likely position Thryv for expanded market engagement and improved service offerings.
Frequently Asked Questions
What is Thryv Holdings, Inc.?
Thryv Holdings, Inc. is a prominent provider of software solutions aimed at small businesses, enabling them to manage operations more effectively.
What is the purpose of the public offering?
The public offering is primarily to fund part of the acquisition of Infusion Software, Inc. This will enhance Thryv's offerings and strengthen its market position.
When is the offering expected to close?
The offering is expected to close around October 31, 2024, subject to customary conditions.
Who is managing the offering?
RBC Capital Markets, LLC is acting as the sole book-running manager for this public offering.
How can investors access offering documents?
Preliminary prospectus supplements and accompanying prospectus can be accessed via the SEC's website or requested directly from RBC Capital Markets, LLC.
