Skillz Announces Proposed Public Offering of Class A Common Stock
March 17 2021 - 7:54AM
Business Wire
Skillz Inc. (NYSE: SKLZ) (“Skillz”) announced today that it has
commenced an underwritten public offering of 32,000,000 shares of
its Class A common stock, consisting of 17,000,000 shares being
offered by Skillz and 15,000,000 shares being offered by certain
selling stockholders. The selling stockholders intend to grant the
underwriters a 30-day option to purchase up to an additional
4,800,000 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.
Skillz intends to use the net proceeds it receives from the
offering for working capital and general corporate purposes. Skillz
will not receive any proceeds from the sale of Class A common stock
offered by the selling stockholders.
Citigroup, Goldman Sachs & Co. LLC, and Jefferies are acting
as joint lead book-running managers for the offering. RBC Capital
Markets, UBS Investment Bank, Wedbush Securities, and Wells Fargo
Securities are acting as additional book-running managers and
Canaccord Genuity and Stifel are acting as co-managers.
The offering will be made only by means of a prospectus. A
preliminary prospectus related to the offering has been filed with
the Securities and Exchange Commission (the “SEC”) and is available
on the SEC’s website at http://www.sec.gov. Copies of the
preliminary prospectus may also be obtained by contacting:
Citigroup Global Markets Inc., Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by
phone at (800) 831-9146; Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, by
phone at (866) 471‐2526, or by email at
prospectus-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by phone at 1-877-821-7388, or by email at
Prospectus_Department@Jefferies.com.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These
securities may not be sold, nor may offers to buy these securities
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 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 contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, you can identify forward-looking statements
by terms such as “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “outlook,” “may,” “might,” “plan,” “project,” “will,”
“would,” “should,” “could,” “can,” “predict,” “potential,”
“strategy, “target,” “explore,” “continue,” or the negative of
these terms, and similar expressions intended to identify
forward-looking statements. However, not all forward-looking
statements contain these identifying words. Forward-looking
statements in this release include, but are not limited to,
statements concerning the terms of the proposed public offering and
the completion, timing, and size of the proposed public offering.
Actual results could differ materially from those stated or implied
in forward-looking statements due to a number of factors, including
but not limited to, risks detailed in the section entitled “Risk
Factors” in the registration statement on Form S-1 related to the
offering filed with the SEC, as well as Skillz’s other filings with
the SEC. The forward-looking statements included in this press
release should not be unduly relied upon, represent Skillz’s views
only as of the date of this press release, and do not represent
Skillz’s views as of any subsequent date. Skillz undertakes no
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
changes in Skillz’s expectations, or otherwise, except as required
by law.
Source: Skillz Inc.
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