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Squarespace to Go Private in $6.9B All-Cash Transaction with Permira (investors.squarespace.com)

submitted 6 months ago by lautan@lemmy.ca to c/technology@lemmy.world

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Stockholders will receive $44.00 per share in cash, which represents a premium of 29% over the 90-day volume weighted average trading price of $34.09 Squarespace, Inc. (NYSE: SQSP ), the design-driven platform helping entrepreneurs build brands and businesses online, today announced that it has entered into a definitive agreement to go private by Permira, the global private equity firm, in an all-cash transaction valued at approximately $6.9 billion. Under the terms of the agreement, Squarespace stockholders will receive $44.00 per share in cash representing a transaction valued at over $6.6 billion on an equity value basis and approximately $6.9 billion on an enterprise value basis. The purchase price represents a premium of approximately 29% over Squarespace's 90-day volume weighted average trading price, and a premium of 15% over Squarespace's closing share price of $38.19 on the NYSE on May 10, 2024. Upon completion of the transaction, Squarespace will become a privately held

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[–] flumph@programming.dev 40 points 6 months ago (1 children)

I switched all my domains to Porkbun. No way I'm hanging out in Squarespace land.

[–] brbposting@sh.itjust.works 7 points 6 months ago

I like their “I don’t like your name“ page