ETSY announces pricing of IPO
Etsy, the online marketplace for millions of users to make, sell and buy unique goods, officially announced the pricing of its initial public offering of 16,666,666 shares of its common stock at a price to the public of $16.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on April 16, 2015, under the symbol “ETSY.” The offering is expected to close on April 21, 2015, subject to customary closing conditions.
Etsy is offering 13,333,333 shares and selling stockholders are offering 3,333,333 shares. Etsy will not receive any proceeds from the sale of shares by the selling stockholders. In addition, selling stockholders have granted the underwriters a 30-day option to purchase up to 2,499,999 additional shares.
Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering. Allen & Company LLC, Loop Capital Markets LLC and The Williams Capital Group, L.P. are acting as co-managers.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission on April 15, 2015.