Klaviyo Announces Secondary Offering of 6.5M Series A Common Shares.

Klaviyo has announced the commencement of a secondary offering of 6.5 million shares of Series A common stock by entities affiliated with Summit Partners. The company will not receive any proceeds from the sale. The offering is subject to market and other conditions. The Selling Stockholders also expect to grant the underwriter an option to purchase up to an additional 975,000 shares.

Klaviyo, Inc. (NYSE: KVYO), a leading customer relationship management (CRM) platform for B2C brands, has announced the commencement of a secondary offering of 6.5 million shares of its Series A common stock. The offering is being led by entities affiliated with Summit Partners, with Barclays acting as the underwriter [3]. The company will not receive any proceeds from the sale, as the shares are being sold by the affiliated entities.

The secondary offering is subject to market conditions and other unspecified conditions. The shares are expected to be sold through one or more transactions on the New York Stock Exchange or in the over-the-counter market. The company has filed a registration statement on Form S-3 with the Securities and Exchange Commission (SEC) and expects the offering to be completed as soon as market conditions permit [1].

Klaviyo is known for its AI-powered CRM solution that combines marketing automation, analytics, and customer service into a single platform. The company's offerings have been adopted by a wide range of businesses, including Mattel, Glossier, CorePower Yoga, and Daily Harvest [2].

The announcement comes as Klaviyo continues to expand its customer base and grow its revenue. The company's forward-looking statements reflect its plans for future growth and the potential for continued success in the B2C CRM market.

References:
[1] https://www.stocktitan.net/news/KVYO/klaviyo-announces-launch-of-proposed-secondary-offering-of-series-a-q3vl81tjxqtk.html
[2] https://www.citybiz.co/article/732441/klaviyo-prices-of-secondary-offering-of-6500000-shares-of-series-a-common-stock/
[3] https://www.ainvest.com/news/klaviyo-announces-secondary-offering-series-stock-affiliated-entities-sell-6-5-million-shares-2508/