Bandwidth Inc. Announces Pricing of Secondary Offering by Selling Voxbone Stockholders
Bandwidth Inc. (NASDAQ: BAND) announced the pricing of a secondary offering for 663,394 shares of its Class A common stock by VIP II Nominees Limited at $152.00 per share, set to close on November 5, 2020. This move will enable the Selling Stockholder to divest all its shares in the company. Morgan Stanley is serving as the underwriter for the offering. Investors are advised to review the prospectus filed with the SEC for more detailed information regarding the offering.
- Successful pricing of a secondary offering at $152.00 per share.
- Facilitates the complete divestment of the Selling Stockholder's shares.
- Secondary offerings can lead to shareholder dilution.
RALEIGH, N.C., Nov. 3, 2020 /PRNewswire/ -- Bandwidth Inc. (the "Company") (NASDAQ: BAND), a leading enterprise cloud communications company, today announced the pricing, on November 2, 2020, of the previously announced secondary offering of shares of its Class A common stock. VIP II Nominees Limited (for the benefit of Vitruvian Investment Partnership II, a fund managed by Vitruvian Partners LLP) (the "Selling Stockholder"), has agreed to sell an aggregate of 663,394 shares of the Company's Class A common stock in an underwritten public offering at a price of
It is anticipated that, upon completion of these transactions, the Selling Stockholder will have disposed of all of its shares of Class A common stock of the Company.
Morgan Stanley acted as the underwriter for the offering.
The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, as well as the prospectus supplement related to this offering and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at: www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
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.
Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts are forward-looking statements. Forward-looking statements generally can be identified by the words "may," "will," "expect," "believe," "anticipate," "intend," "could," "would," "project," "plan," "estimate," or "continue," or the negative of these words or other similar terms or expressions that concern our expectations strategy, plans or intentions. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We believe that these factors include, but are not limited to, the following: our ability to attract and retain customers, including large enterprises; our approach to identifying, attracting and keeping new and existing customers, as well as our expectations regarding customer turnover; our beliefs regarding network traffic growth and other trends related to the usage of our products and services; our expectations regarding revenue, costs, expenses, gross margin, dollar based net retention rate, adjusted EBITDA, non-generally accepted accounting principles in the United States of America ("GAAP") net income and capital expenditures; our beliefs regarding the growth of our business and how that impacts our liquidity and capital resources requirements; the sufficiency of our cash and cash equivalents to meet our liquidity needs; our ability to attract, train, and retain qualified employees and key personnel; our beliefs regarding the expense and productivity of and competition for our sales force; our expectations regarding headcount; our ability to maintain and benefit from our corporate culture; our plans to further invest in and grow our business, including international offerings, and our ability to effectively manage our growth and associated investments; our ability to introduce new products and services and enhance existing products and services; our ability to compete successfully against current and future competitors; the evolution of technology affecting our products, services and markets; the impact of certain new accounting standards and guidance, as well as the time and cost of continued compliance with existing rules and standards; our beliefs regarding the use of Non-GAAP financial measures; our ability to comply with modified or new industry standards, laws and regulations applicable to our products, services and business, including the General Data Protection Regulation, the California Consumer Privacy Act of 2018 and other privacy regulations that may be implemented in the future, and Secure Telephone Identity Revisited and Signature-based Handling of Asserted Information Using toKENs and other robocalling prevention and anti-spam standards and increased costs associated with such compliance; our customers' violation of our policies or other misuse of our platform; our ability to maintain, protect and enhance our intellectual property; our expectations regarding litigation and other pending or potential disputes; our ability to service the interest on our
Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no obligation to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
View original content:http://www.prnewswire.com/news-releases/bandwidth-inc-announces-pricing-of-secondary-offering-by-selling-voxbone-stockholders-301165774.html
SOURCE Bandwidth Inc.
FAQ
What is the secondary offering price of Bandwidth's shares?
When will Bandwidth's secondary offering close?
How many shares are being offered in Bandwidth's secondary offering?
Who is the underwriter for Bandwidth's secondary offering?
What should investors do before investing in Bandwidth's offering?
