Similarweb Launches Of Secondary Offering Of 3.5M Shares Of Common Stock By A Selling Shareholder
Portfolio Pulse from Benzinga Newsdesk
Similarweb Ltd. announced a secondary offering of 3.5 million shares by a selling shareholder, with an option for underwriters to purchase an additional 525,000 shares. Similarweb will not receive proceeds from this sale.
September 12, 2024 | 8:01 pm
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Similarweb Ltd. is undergoing a secondary offering of 3.5 million shares by a selling shareholder. The company will not receive any proceeds from this sale.
The secondary offering increases the supply of shares in the market, which can lead to a decrease in share price due to dilution concerns. Since Similarweb will not receive any proceeds, there is no direct financial benefit to the company from this offering.
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