Squarespace, the web development platform, has announced its withdrawal from the New York Stock Exchange. This decision entails using cash to repurchase shares from stockholders at $44 per share, amounting to approximately $6.9 billion. Since its stock market debut in 2021, Squarespace’s share price has never exceeded the initial trading price of $48.
Investment firm Permira will participate in the deal to acquire Squarespace’s operations from the stock market. CEO and co-founder Anthony Casalena, along with investment firm Accel, which holds the highest voting power, have approved the plan and will continue to invest in Squarespace.
Google Domains customers may already be familiar with Squarespace, as they are known for purchasing domain registration businesses and all customers from Google in 2023.
Source: Squarespace Image @NYSE
TLDR: Squarespace is leaving the stock market, buying back shares at $44 each, and attracting investment from Permira with Google Domains customers potentially becoming new clients.
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