Similarweb (SMWB) said Friday that a public offering by a selling stockholder of 3.5 million shares was priced at $7.85 per share for total proceeds of $27.5 million.
The selling stockholder granted the underwriters a 30-day option to purchase up to 525,000 additional shares at the public offering price.
Similarweb will not receive any proceeds from the offering, which is expected to close Sept. 16.
Shares of the company fell more than 13% in Friday's premarket trading.
Price: 8.25, Change: -1.32, Percent Change: -13.79
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