Skillz Announces Pricing of Public Offering of Class A Common Stock
March 18 2021 - 10:11PM
Business Wire
Skillz Inc. (NYSE: SKLZ) (“Skillz”) announced today the pricing
of its previously announced underwritten public offering of
32,000,000 shares of its Class A common stock. Skillz will sell
17,000,000 shares of its Class A common stock and certain selling
stockholders will sell 15,000,000 shares of Class A common stock,
at a public offering price of $24.00 per share. The selling
stockholders have granted the underwriters a 30-day option to
purchase up to an additional 4,800,000 shares of Class A common
stock. The offering is expected to close on or about March 23,
2021, subject to the satisfaction of customary closing
conditions.
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. BofA
Securities, 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 copy
of the prospectus, when available, can be accessed through the
Securities and Exchange Commission’s (“SEC”) website at
http://www.sec.gov. Copies of the prospectus, when available, 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, and declared effective by, the SEC. 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 satisfaction of customary closing
conditions related to the public offering and Skillz’s ability to
complete the 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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