Similarweb Shares Drop After Pricing Shareholder Offering

Dow Jones09-13

By Chris Wack

Similarweb shares were down 15% st $8.15 after the company priced an underwritten public offering by a selling shareholder of 3.5 million shares at $7.85 a share for proceeds of $27.5 million.

The technology company said the selling shareholder has granted the underwriters a 30-day option to buy up to an additional 525,000 shares at the public offering price, less underwriting discounts and commissions.

The Tel Aviv company won't receive any proceeds from any sale of shares by the selling shareholder.

The offering is expected to close on or about Monday.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

September 13, 2024 10:12 ET (14:12 GMT)

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