thredUP Announces Launch of Public Offering
July 26 2021 - 4:11PM
ThredUp Inc. (Nasdaq: TDUP) (“thredUP”), one of the largest online
resale platforms for women’s and kids’ apparel, shoes and
accessories, announced today the launch of the public offering of
6,424,369 shares of its Class A common stock, consisting of
2,000,000 shares to be issued and sold by thredUP and 4,424,369
shares to be sold by existing stockholders of thredUP. The selling
stockholders are expected to grant the underwriters a 30-day option
to purchase up to 963,655 additional shares of Class A common
stock. The offering is subject to market conditions, and there can
be no assurance as to whether or when the offering may be completed
or as to the actual size or terms of the offering.
thredUP intends to use the net proceeds from the sale of its
shares in the offering for working capital, other general corporate
purposes and to fund its growth strategies. thredUP will not
receive any proceeds from the sale of shares by the selling
stockholders.
Goldman Sachs & Co. LLC, Morgan Stanley and Barclays are
acting as lead book-running managers for the offering. William
Blair is acting as a book-running manager.
This offering will be made only by means of a prospectus. When
available, copies of the preliminary prospectus relating to the
offering may be obtained from: Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York,
NY 10282, or by telephone at (866) 471-2526; Morgan Stanley
& Co. LLC, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, NY 10014; and Barclays Capital Inc.,
c/o Broadridge Financial Solutions, Attention: Prospectus
Department, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (888) 603-5847.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission but has not
yet become effective. These securities may not be sold, nor may
offers to buy be accepted, prior to the time the registration
statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
these securities, 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 ThredUp Inc.
thredUP is transforming resale with the mission to inspire a new
generation of consumers to think secondhand first. By making it
easy to buy and sell secondhand, thredUP has become one of the
world's largest resale platforms for women's and kids' apparel,
shoes and accessories. thredUP is extending the life cycle of
clothing, changing the way consumers shop and ushering in a more
sustainable future for the fashion industry.
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
thredUP’s proposed offering. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions,
including those described under “Risk Factors” in thredUP’s
registration statement relating to the offering. Except as required
by law, thredUP has no obligation to update any of these
forward-looking statements to conform these statements to actual
results or revised expectations.
Contacts:
Media Contact:media@thredup.comInvestor
Contact:IR@thredup.com
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