Fiverr Launches Follow-On Offering
Fiverr International Ltd. (NYSE: FVRR) has announced a public offering of $700 million in ordinary shares, with the option for underwriters to purchase an additional 15%. J.P. Morgan, Goldman Sachs, and Morgan Stanley are the lead managers for this offering. The final terms will be revealed in a subsequent prospectus. This offering is made possible under a shelf registration statement filed with the SEC. Fiverr connects businesses with freelancers in various digital services, with a broad customer base, enhancing its position in the competitive freelance market.
- Proposed public offering of $700 million, which could strengthen liquidity and fund growth initiatives.
- Potential dilution of existing shareholders due to new shares being issued.
Fiverr International Ltd. (NYSE: FVRR) (“Fiverr”) announced today the commencement of an underwritten public offering of
J.P. Morgan Securities LLC is acting as lead book-running manager for the proposed offering of ordinary shares. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are also acting as book-running managers for the proposed offering.
The proposed offering will be made only by means of a preliminary prospectus supplement and the accompanying prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained from the U.S. Securities and Exchange Commission (the “SEC”) website or:
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: 1-866-803-9204 or via email prospectus-eq_fi@jpmchase.com;
- Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attn: Prospectus Department, via telephone: 1-866-471-2526 or via email at prospectus-ny@gs.com; or
- Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Dept.
The final terms of the proposed public offering will be disclosed in a final prospectus supplement to be filed with the SEC. An automatic shelf registration statement (including a prospectus) relating to the offering of ordinary shares was filed with the SEC on March 2, 2021 and became effective upon filing. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Fiverr
Fiverr’s mission is to change how the world works together. For over 10 years, the Fiverr platform has been at the forefront of the future of work connecting businesses of all sizes with skilled freelancers offering digital services in more than 500 categories, across 8 verticals including graphic design, digital marketing, programming, video and animation. In the year ended December 31, 2020, over 3.4 million customers bought a wide range of services from freelancers across more than 160 countries.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the proposed offering. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements that include the words “believe,” “may,” “will,” “expect,” “estimate,” “could,” “should,” “anticipate,” “aim,” “intend,” “plan,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the SEC on February 18, 2021 as such factors may be updated from time to time in our other filings with the SEC, including the registration statement relating to the offering, which are accessible on the SEC’s website at www.sec.gov. In addition, 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 that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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