Klaviyo Announces Underwritten Public Offering to Cover CEO's Tax Obligations

Strategic Insights -

Boston-based e-commerce CRM provider Klaviyo has commenced an underwritten public offering to cover CEO Andrew Bialecki's tax liabilities from exercising his stock options. The offering aims to raise $372,000,000 through the sale of Series A common stock, with Goldman Sachs & Co. LLC and Morgan Stanley acting as joint lead bookrunning managers.

The offering is subject to market conditions, and the company will not receive any proceeds from the sale. A registration statement on Form S-3 was filed with the SEC on February 19, 2025, and became effective upon filing. The offering will be made only through a prospectus supplement and an accompanying prospectus, which can be obtained from the SEC's website or through the joint lead bookrunning managers.

Key Takeaways:

  • Klaviyo, a Boston-based e-commerce CRM provider, is undertaking an underwritten public offering to cover CEO Andrew Bialecki's tax obligations from exercising his stock options.
  • The offering aims to raise $372,000,000 through the sale of Series A common stock.
  • Goldman Sachs & Co. LLC and Morgan Stanley are acting as joint lead bookrunning managers for the offering.
  • A registration statement on Form S-3 was filed with the SEC on February 19, 2025, and became effective upon filing.
  • The company will not receive any proceeds from the sale.
  • The offering is subject to market conditions and customary closing conditions.

Statistics:

  • $372,000,000: The amount to be raised from the underwritten public offering.
  • 1:1 experiences at scale: The goal of Klaviyo's platform, which combines marketing automation, analytics, and customer service into one unified solution.
  • 169,000+: The number of relationship-driven brands using Klaviyo, including Mattel, Glossier, Core Power Yoga, and Daily Harvest.

Sources:

  • Businesswire.com: "Klaviyo Announces Underwritten Public Offering to Cover CEO's Tax Obligations"
  • SEC filing on Form S-3: "Registration Statement"
  • Prospectus supplement and accompanying prospectus: "Preliminary Prospectus Supplement and Accompanying Prospectus"