By Colin Kellaher
Marketing-automation platform Klaviyo Inc. plans to sell more than 11.5 million Series A common shares at between $25 and $27 apiece in its initial public offering.
At the $26 midpoint of that range, the Boston company said it expects net proceeds of about $274.5 million.
Klaviyo said the offering also will include nearly 7.7 million shares being sold by current investors, bringing the size of the IPO to 19.2 million shares.
Klaviyo, which was valued at $9.5 billion in a funding round in 2021, said the holders of its Series B common stock will still hold roughly 99% of its voting power after the IPO.
Klaviyo, which also stores and manages customer data for business-to-consumer brands, reported a profit of $15.2 million on revenue of $320.7 million for the six months ended June 30, compared with a loss of $24.6 million on revenue of $208.3 million a year earlier.
The company said it has applied to list its shares on the New York Stock Exchange under the symbol KVYO.
Write to Colin Kellaher at [email protected]
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