On Wednesday, August 5, 2020, Squarespace Inc. (NYSE: SQSP) (“Squarespace”) announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $15.00 per share. The shares are expected to begin trading on the New York Stock Exchange on Thursday, August 6, 2020 under the ticker symbol “SQSP.”
In addition, Squarespace has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock at the initial public offering price.
The offering is expected to close on Monday, August 10, 2020, subject to customary closing conditions.
J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering. BofA Securities and Stifel are acting as lead managers for the offering. William Blair and Guggenheim Securities are acting as co-managers for the offering.
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Squarespace recently acquired Unfold, a powerful design tool for creating beautiful stories on Instagram. While the terms of the deal were not disclosed, we can estimate that Squarespace paid somewhere in the range of $10-$20 million for the startup. Unfold was founded in 2017 by Alfonso Cobo and Juan Felipe Pena.
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