Similarweb slides as board director to slice stake

Similarweb

13/09/2024 12:54

** Similarweb's  SMWB.O  shares down 11.3% on thin premarket
volume to $8.49 as market intelligence software firm's top
investor to cut stake
    ** Israeli-based co late Thurs launched 3.5 mln share
secondary offering
    ** The seller is board director Joshua Alliance, who
currently owns 12.91 mln shares or ~16% stake, per the SEC
prospectus filing
    ** Next biggest Similarweb investors are Viola Ventures and
Naspers Ltd, both with ~11% stakes, per LSEG data
    ** Co has ~80.9 mln shares outstanding for ~$774 mln market
cap, and ~58.3 mln shares of public float
    ** Goldman Sachs and Barclays jt bookrunners for offering
    ** Through Thurs, SMWB up nearly 80% YTD
    ** Similarweb went public in 2021 IPO priced at $22

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))