After filing its S1 in early March, Etsy just announced that it’s expecting to launch its IPO roadshow tomorrow. It will offer 16.67 million shares, with an initial offering price of between $US14 and $US16 per share. That puts its valuation in the $US1.5 – $US1.8 billion range.
Here’s the full press release:
Etsy, Inc. [“Etsy”], a marketplace where people around the world connect, both online and offline, to make, sell and buy unique goods, today announced that it expects to launch the roadshow for the initial public offering (IPO) of its common stock on April 1, 2015. The offering is for 16,666,666 shares. Etsy is offering 13,333,333 shares and the selling stockholders are offering 3,333,333 shares. The selling stockholders have also granted the underwriters an option to purchase up to 2,499,999 additional shares. The initial public offering price is currently expected to be between $US14.00 and $US16.00 per share. Etsy has applied to list its common stock on the NASDAQ Global Select Market under the ticker symbol “ETSY.”
Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as joint book-running managers for the proposed offering. Allen & Company LLC is acting as co-manager.
Etsy plans to reserve up to 5% of the shares to be sold in the offering as part of an IPO Participation Program for individuals. The program will be administered by Morgan Stanley Smith Barney LLC. Please visit http://etsyipo.morganstanley.com for more information.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from: Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: [email protected]; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014, or via email:[email protected]
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.