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Klaviyo, Inc. (the "Company") (NYSE:KVYO), the only CRM built for B2C brands, today announced the commencement of an underwritten public offering (the "offering") of 6,500,000 shares of its Series A common stock, par value $0.001 per share (the "Series A Common Stock"), by entities affiliated with Summit Partners, L.P. (the "Selling Stockholders"). The Selling Stockholders also expect to grant the underwriter a 30-day option to purchase up to an additional 975,000 shares of Series A Common Stock. The Company will not receive any proceeds from the sale of the shares being offered by the Selling Stockholders. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
Barclays is acting as the underwriter for the offering.
The underwriter may offer the shares of Series A Common Stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
Posted In: KVYO
