1stdibs.com, Inc. Announces Pricing of Initial Public Offering

Rhea-AI Summary

1stdibs.com has priced its initial public offering at $20.00 per share, totaling 5,750,000 shares, aiming to raise $115 million before expenses. Trading on The Nasdaq under the ticker symbol DIBS is set to commence on June 10, 2021, with the offering closing date expected on June 14, 2021. Additionally, underwriters have a 30-day option to purchase up to 862,500 more shares. BofA Securities and Barclays lead the underwriting team. The offering's registration statement was declared effective by the SEC on June 9, 2021.

Positive

• Initial public offering priced at $20.00 per share; expected to raise $115 million.
• Potential for growth with additional shares offered to underwriters.

Negative

• Possible dilution of shares if underwriters exercise their option to purchase additional shares.
• Market volatility may affect the stock performance post-IPO.

NEW YORK, June 09, 2021 (GLOBE NEWSWIRE) -- 1stdibs.com, Inc. (1stDibs) announced today the pricing of its initial public offering of an aggregate of 5,750,000 shares of its common stock at a price to the public of $20.00 per share. The shares are expected to begin trading on The Nasdaq Global Market under the ticker symbol “DIBS” on June 10, 2021. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $115 million, excluding any exercise of the underwriters’ over-allotment option. The offering is expected to close on June 14, 2021, subject to customary closing conditions.

In addition, 1stDibs has granted the underwriters a 30-day option to purchase up to 862,500 additional shares of common stock at the initial price to the public, less underwriting discounts and commissions.

BofA Securities and Barclays are acting as joint lead book-running managers, Allen & Company LLC and Evercore ISI are acting as joint bookrunner managers, and William Blair, Raymond James and JMP Securities are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina, 28255-0001, by email at dg.prospectus_requests@bofa.com; or from Barclays Capital Inc. c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by email at Barclaysprospectus@broadridge.com.

A registration statement relating to these securities has been filed with, and declared effective on June 9, 2021 by, the U.S. Securities and Exchange Commission. Copies of the registration statement, as amended, can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About 1stDibs

1stDibs is a leading online marketplace for connecting design lovers with highly coveted sellers and makers of vintage, antique, and contemporary furniture, home décor, art, jewelry, watches and fashion.

Forward Looking Statements:

This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include any statements regarding the commencement of trading of 1stDibs’ common stock on The Nasdaq Global Market and the closing of the offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under “Risk Factors” in 1stDibs’ registration statement relating to the offering. Except as required by law, 1stDibs has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

Contacts:

For investors:

investors@1stdibs.com

For media:

Jennifer Miller

jennifer.miller@1stdibs.com

FAQ

What is the price of 1stdibs' initial public offering (IPO)?

The IPO is priced at $20.00 per share.

How many shares are being offered in 1stdibs' IPO?

A total of 5,750,000 shares are being offered.

When does 1stdibs start trading on Nasdaq under the ticker DIBS?

1stdibs is expected to begin trading on June 10, 2021.

What are the expected gross proceeds from 1stdibs' IPO?

The expected gross proceeds are $115 million, excluding any additional shares sold.

What is the closing date for 1stdibs' IPO offering?

The offering is expected to close on June 14, 2021.