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

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

  • foggy@lemmy.worldEnglish
    62·
    1 month ago

    Sometimes appeasing shareholders isn’t good for business.

    This would mean it is more likely that employees will see greater benefits. Certainly doesn’t guarantee that, but without shareholders to appease, the workers have more leverage.

      • foggy@lemmy.worldEnglish
        312·
        1 month ago

        Shareholders were bought out for $44.00 per share.

        You’re thinking about “investors” which are not the same as “shareholders”.

        There are no more shareholders. There are no more shades to hold.

        • athairmor@lemmy.worldEnglish
          181·
          1 month ago

          What? Private companies can and do sell shares of the company and people who own them are shareholders. The difference is that the shares aren’t traded on public markets.

          People who own shares in publicly traded companies are also called investors.