Klaviyo announced the pricing for their initial public offering of 19.2 million shares from its Series A common stock at $30 per share late Tuesday. The offering included 11.5 million shares from Klaviyo and 7.7 million shares from existing stockholders. Shares, which began trading under the ticker symbol “KVYO” on September 20, rose 9.2 percent by the closing bell on Wednesday, according to reporting from CNBC.
The proceeds from the offering will give Klaviyo an estimated $345.2 million before deducting underwriting discounts, commissions and offering expenses. Goldman Sachs, Morgan Stanley and Citigroup are acting as lead book runners for the offering.
Founded in 2012 and headquartered in Boston, Klaviyo is a SaaS platform with over 130,000 paying users including companies like Supergoop!, SKIMS and Dermalogica. The IPO is expected to close September 22.
