Pluralsight, Inc. Announces Pricing of Follow-On Offering by Selling Stockholders
March 07 2019 - 1:51AM
Pluralsight, Inc. (NASDAQ: PS) today announced the pricing of an
underwritten public offering of 13,558,464 shares of its
Class A common stock by certain selling stockholders at a
public offering price of $29.25 per share. Such selling
stockholders also granted the underwriters a 30-day option to
purchase up to an additional 2,033,770 shares of Class A
common stock. Pluralsight will not receive any proceeds from the
sale of the shares of its Class A common stock being offered by the
selling stockholders. This offering is expected to close on March
11, 2019, subject to customary closing conditions.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are
acting as lead book-running managers for the offering. Barclays
Capital Inc., BofA Merrill Lynch and Citigroup Global Markets Inc.
are acting as book-running managers. KeyBanc Capital Markets Inc.,
Raymond James & Associates, Inc., Needham & Company, LLC,
SunTrust Robinson Humphrey, Inc., First Analysis Securities
Corporation and Robert W. Baird & Co. Incorporated are acting
as co-managers.
Pluralsight also announced today the pricing of $550
million aggregate principal amount of 0.375% convertible
senior notes due 2024 in a concurrent private placement to
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended. The aggregate principal amount
of the offering was increased from the previously announced
offering size of $450 million. Pluralsight also granted the
initial purchasers of the notes a 13-day option to purchase up to
an additional $83.5 million aggregate principal amount of the
notes. The sale of the notes to the initial purchasers is
expected to settle on March 11, 2019, subject to customary closing
conditions, and is expected to result in net proceeds to
Pluralsight of approximately $535.3 million (or approximately
$616.7 million if the initial purchasers exercise their option to
purchase additional notes in full), after deducting the initial
purchasers’ discounts and commissions and estimated offering
expenses payable by Pluralsight (assuming no exercise of the
initial purchasers’ option). The public offering of Class A common
stock is not contingent upon the consummation of the concurrent
notes offering, and the concurrent notes offering is not contingent
upon the consummation of the public offering of Class A common
stock.
The offering of Class A common stock will be made only by means
of a prospectus, copies of which may be obtained from Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014; or J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204
or by email at prospectus-eq_fi@jpmchase.com.
A registration statement relating to the Class A common stock
has been declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the 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 Pluralsight
Pluralsight is an enterprise technology skills platform that
delivers a unified, end-to-end learning experience for businesses
across the globe. Through a subscription service, companies are
empowered to move at the speed of technology, increasing
proficiency, innovation and efficiency. Founded in 2004 and trusted
by Fortune 500 companies, Pluralsight provides members
with on-demand access to a digital ecosystem of learning tools,
including Pluralsight IQ, directed learning paths, expert-authored
courses, interactive labs, and analytics. For more information,
visit www.pluralsight.com.
Media Contact:
DJ
AndersonCommunications/PressPluralsight801-784-9007press@pluralsight.com
Investor Relations
Contact: Mark McReynoldsInvestor
RelationsPluralsight801-784-9007ir@pluralsight.com
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