tl;dr
On Monday, Squarespace (NYSE: SQSP) announced its agreement with private equity firm Permira to go private in an all-cash deal valued at about $6.9 billion. This led to a 13% increase in the company's shares in early trade. As per the agreement, Squarespace (SQSP) stockholders will receive $44.00 pe...
On Monday, Squarespace (NYSE: SQSP) announced its agreement with private equity firm Permira to go private in an all-cash deal valued at about $6.9 billion. This led to a 13% increase in the company's shares in early trade. As per the agreement, Squarespace (SQSP) stockholders will receive $44.00 per share in cash, translating to a transaction valued at over $6.6 billion on an equity value basis, and approximately $6.9 billion on an enterprise value basis. The purchase price denotes a 15% premium over Squarespace's closing share price of $38.19 on the NYSE on May 10. Squarespace's CEO Anthony Casalena will retain a substantial majority of his existing equity and continue to be one of the largest shareholders post-transaction. He will also remain as the CEO and Board Chairman, leading the business alongside the current leadership team. Due to the pending transaction, the company will no longer hold its previously announced Investor Day scheduled for May 15. Shares of Squarespace's (SQSP) peer, Wix.com (WIX), were up 1.75% to $124.40 in premarket trade.
More about Squarespace Inc
Squarespace Inc
Squarespace, Inc. operates a platform for independent companies and creators to build an online presence, grow their brands, and manage their businesses over the Internet. The company is headquartered in New York, New York.
Sector: TECHNOLOGY
Industry: SERVICES-PREPACKAGED SOFTWARE
Market Cap: $5.24 billion
Dividend Yield: None
EPS: -0.05
P/E Ratio: 7.77
ROE: -0.007
Volume: 1,056,456,000
Stock Price: $40.85
52-Week Change: -0.72
RSI: 0.186
More about Wix.Com Ltd
Wix.Com Ltd Stock Analysis Wix.Com Ltd (WIX) Stock Analysis Summary
Wix.Com Ltd, a technology company, develops and markets a cloud-based platform for website and web application creation across various regions.
Sector: Technology
Industry: Services-Computer Programming, Data Processing, etc.
Market Cap: $6.803 billion
Current Price: $214.49
Dividend Yield: None
P/E Ratio: 27.48
EPS: 0.0212
Volume: 1,561,665,000
52-Week High: $158.72
52-Week Low: $0
Beta (5Y Monthly): 0.137
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