Klaviyo slips after CEO sells stock in $373 mln secondary offering

Klaviyo

15/05/2025 11:43

**  Shares of marketing automation firm Klaviyo Inc KVYO.N down 1% premarket to $34.48 after secondary offering priced

** Boston, Massachusetts-based software firm late Weds announced ~10.97 mln shares sold by CEO Andrew Bialecki to cover tax obligations related to exercise of his stock options, which expire this year

** Offering price of $34 equates to total raise of ~$372.9 mln and represents 2.4% discount to stock's last sale

** KVYO shares on Weds fell 7.1% after co late Tues commenced $372 mln offering

** Goldman Sachs, Morgan Stanley and Citigroup are jt lead bookrunners for offering

** Klaviyo has 276 mln shares outstanding for $9.6 bln market cap

** Through Weds, shares down 15.5% YTD. Stock hit record intraday high of $49.55 in Feb

** Avg rating among 23 analysts is "buy" and median PT is $43.88, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))