REDWOOD CITY, Calif.,
Jan. 13, 2021 /PRNewswire/
-- Poshmark, Inc. (Poshmark) today announced the
pricing of the initial public offering (IPO) of 6,600,000 shares of
its Class A common stock at a price to the public of $42.00 per share. All of the shares are being
offered by Poshmark. The shares are expected to begin trading on
the Nasdaq Global Select Market on Jan. 14,
2021 under the symbol "POSH." In addition, the underwriters
have a 30-day option to buy up to an additional 990,000 shares of
Class A common stock from the company at the IPO price, less
underwriting discounts and commissions. The closing of the offering
is expected to occur on Jan. 19,
2021, subject to satisfaction of customary closing
conditions.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and
Barclays Capital Inc. are acting as lead book-running managers for
the offering. Stifel, Nicolaus & Company, Incorporated,
William Blair & Company, L.L.C,
Raymond James & Associates,
Inc., Cowen and Company, LLC, and JMP Securities LLC are acting as
book-running managers.
The offering will be made only by means of a prospectus. When
available, copies of the preliminary prospectus relating to the
offering may be obtained from: Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, NY 10014 or by telephone
at (866) 718-1649; Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866)
471-2526; and Barclays Capital Inc., c/o Broadridge Financial
Solutions, Attention: Prospectus Department, 1155 Long Island
Avenue, Edgewood, NY 11717, or by
telephone at (888) 603-5847.
A registration statement relating to these securities has been
filed with the U. S. Securities and Exchange Commission and was
declared effective on Jan. 13, 2021.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Poshmark, Inc.:
Poshmark is a leading social
marketplace for new and secondhand style for women, men, kids,
home, and more. By combining the human connection of physical
shopping with the scale, ease, and selection benefits of ecommerce,
Poshmark makes buying and selling simple, social, and fun. Its
community of more than 70 million registered users across the U.S.
and Canada is driving the future
of commerce while promoting more sustainable consumption.
CONTACTS:
Media Contact
pr@poshmark.com
Investor Contact
ir@poshmark.com
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SOURCE Poshmark