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Thryv Holdings (NASDAQ: THRY) has priced an upsized public offering of 5,715,000 shares of common stock at $14.00 per share, expecting to raise approximately $80.0 million in gross proceeds. The company granted underwriter RBC Capital Markets a 30-day option to purchase up to 857,250 additional shares. The proceeds will partially fund Thryv’s previously announced acquisition of Infusion Software (Keap). The offering is expected to close around October 31, 2024, subject to customary conditions.
Thryv Holdings (NASDAQ: THRY) ha fissato il prezzo per un’offerta pubblica ampliata di 5.715.000 azioni di capitale sociale a 14,00 $ per azione, con l’aspettativa di raccogliere circa 80,0 milioni di dollari in proventi lordi. L’azienda ha concesso al sottoscrittore RBC Capital Markets un’opzione di acquisto per un periodo di 30 giorni per ulteriori 857.250 azioni. I proventi saranno utilizzati parzialmente per finanziare l’acquisizione precedentemente annunciata di Infusion Software (Keap) da parte di Thryv. Si prevede che l’offerta si concluda intorno al 31 ottobre 2024, soggetta a condizioni consuete.
Thryv Holdings (NASDAQ: THRY) ha fijado el precio de una oferta pública ampliada de 5,715,000 acciones de acciones ordinarias a 14,00 $ por acción, esperando recaudar aproximadamente 80,0 millones de dólares en ingresos brutos. La compañía ha otorgado al suscriptor RBC Capital Markets una opción de compra de 30 días para adquirir hasta 857,250 acciones adicionales. Los ingresos se utilizarán parcialmente para financiar la adquisición previamente anunciada de Infusion Software (Keap) por parte de Thryv. Se espera que la oferta se cierre alrededor del 31 de octubre de 2024, sujeta a las condiciones habituales.
Thryv Holdings (NASDAQ: THRY)는 5,715,000주의 보통주를 주당 14.00 달러로 공모한 가격을 책정하였으며, 약 8,000만 달러의 총 수익을 올릴 것으로 예상하고 있습니다. 회사는 인수자 RBC Capital Markets에게 30일 동안 최대 857,250주를 추가로 구매할 수 있는 선택권을 부여했습니다. 이 수익금은 Thryv가 이전에 발표한 Infusion Software (Keap)의 인수 자금을 일부 지원할 것입니다. 이 공모는 2024년 10월 31일경에 마감될 것으로 예상되며, 일반적인 조건에 따릅니다.
Thryv Holdings (NASDAQ: THRY) a fixé le prix d’une offre publique majorée de 5 715 000 actions de capital ordinaire à 14,00 $ par action, s’attendant à recueillir environ 80,0 millions de dollars en produits bruts. La société a accordé à l’underwriter RBC Capital Markets une option d’achat de 30 jours pour acquérir jusqu’à 857 250 actions supplémentaires. Les produits seront partiellement utilisés pour financer l’acquisition précédemment annoncée de Infusion Software (Keap) par Thryv. On s’attend à ce que l’offre se clôture autour du 31 octobre 2024, sous réserve des conditions habituelles.
Thryv Holdings (NASDAQ: THRY) hat eine vergrößerte öffentliche Angebotspreisfestlegung für 5.715.000 Aktien des Stammkapitals zu 14,00 $ pro Aktie vorgenommen und erwartet, etwa 80,0 Millionen US-Dollar an Bruttoerlösen zu erzielen. Das Unternehmen hat dem Emissionshaus RBC Capital Markets eine 30-tägige Option eingeräumt, bis zu 857.250 zusätzliche Aktien zu erwerben. Die Einnahmen werden teilweise zur Finanzierung der zuvor angekündigten Übernahme von Infusion Software (Keap) durch Thryv verwendet. Die Angebotsrunde wird voraussichtlich am 31. Oktober 2024, vorbehaltlich der üblichen Bedingungen, abgeschlossen.
Positive
- Secured $80.0 million in gross proceeds through stock offering
- Strategic acquisition funding for Infusion Software (Keap)
- Additional funding potential through 857,250 share underwriter option
Negative
- Potential shareholder dilution from 5.7M new shares issuance
- Stock offering priced at $14.00 may impact current market value
Insights
The $80 million public offering at $14.00 per share represents significant capital raising activity, strategically priced 6% below recent trading levels to ensure strong demand. This dilutive offering will increase outstanding shares by approximately 16.5%, impacting existing shareholders. The capital raise is specifically earmarked for the Keap acquisition, indicating management’s commitment to strategic growth through M&A.
While dilution is a near-term negative, the successful pricing of an upsized offering demonstrates institutional confidence in Thryv’s growth strategy. The overallotment option could bring total proceeds to $92 million if exercised. The involvement of RBC Capital Markets as sole book-runner suggests strong institutional backing for this capital raise.
This offering marks a strategic pivot for Thryv, positioning it for expansion in the small business software market through the Keap acquisition. The pricing below market indicates a pragmatic approach to ensure successful placement, though it may create temporary pressure on the stock. The timing aligns with broader market consolidation trends in the SMB software space.
The deal structure, including the 30-day overallotment option, provides flexibility to capture additional demand while maintaining price stability post-offering. The registration via Form S-3ASR highlights Thryv’s status as a well-known seasoned issuer, streamlining the capital raising process.
DALLAS–(BUSINESS WIRE)– Thryv Holdings, Inc. (“Thryv” or the “Company”) (NASDAQ: THRY) announced today the pricing of an underwritten public offering of 5,715,000 shares of its common stock at a public offering price of $14.00 per share for total gross proceeds (before underwriter’s fees and estimated expenses) of approximately $80.0 million. In connection with the offering, Thryv has also granted the underwriter a 30-day option to purchase up to 857,250 additional shares of Thryv’s common stock.
Thryv intends to use the net proceeds from this offering to fund a portion of the purchase price for its previously announced acquisition of Infusion Software, Inc. (d/b/a Keap).
The offering is expected to close on or about October 31, 2024, subject to customary closing conditions.
RBC Capital Markets, LLC is acting as sole book-running manager for the offering. RBC Capital Markets may offer the shares of common stock from time to time for sale in one or more transactions on the Nasdaq exchange, in the over-the-counter market, through negotiated transactions or otherwise, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
The offering is being conducted as a public offering pursuant to Thryv’s effective shelf registration statement on Form S-3ASR under the Securities Act of 1933, as amended. The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available free of charge on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering of securities may also be obtained from RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Equity Capital Markets, Facsimile: (212) 428-6260.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction.
ABOUT THRYV HOLDINGS
Thryv is the provider of the leading do-it-all small business software platform that empowers small businesses to modernize how they work. It offers small business owners everything they need to communicate effectively, manage their day-to-day operations, and grow — all in one place — giving up to 20 hours back in their week. Thryv’s customizable platform features three centers: Thryv Command Center, a freemium central communications hub, Business Center™ and Marketing Center™. Approximately 300,000 businesses globally use Thryv to connect with local customers and take care of everything they do, start to finish.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding the Company’s expectations relating to the offering, the intended use of proceeds therefrom and the Pending Acquisition. These forward-looking statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as we, Thryv or management “expects,” “anticipates,” “believes,” “estimates,” “intends,” “plans to,” “ought,” “could,” “will,” “should,” “likely,” “appears” or other similar words or phrases. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Results may be materially affected by factors such as: potential volatility in the capital markets and their impact on the ability to complete the offering; risks associated with the Pending Acquisition, including its consummation or the successful integration of Keap with the Company; future levels of revenues being lower than expected and costs being higher than expected; failure or inability to implement growth strategies in a timely manner; unfavorable reaction to the Pending Acquisition by customers, competitors, suppliers and employees; conditions affecting the industry generally; and conditions in the securities market that are less favorable than expected. Except as required by law, the Company undertakes no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029680588/en/
Media Contact:
Julie Murphy
Thryv, Inc.
617.967.5426
Investor Contact:
Cameron Lessard
Thryv, Inc.
214.773.7022
Source: Thryv
FAQ
What is the price per share for Thryv Holdings’ (THRY) public offering in 2024?
Thryv Holdings priced its public offering at $14.00 per share.
How many shares is Thryv Holdings (THRY) offering in its 2024 public offering?
Thryv Holdings is offering 5,715,000 shares of common stock, with an additional 30-day option for underwriters to purchase up to 857,250 shares.
What will Thryv Holdings (THRY) use the proceeds from its 2024 stock offering for?
Thryv Holdings will use the net proceeds to partially fund its acquisition of Infusion Software, Inc. (Keap).
When is Thryv Holdings’ (THRY) 2024 public offering expected to close?
The offering is expected to close on or about October 31, 2024, subject to customary closing conditions.
