SEATTLE--(BUSINESS WIRE)--Avalara, Inc. (NYSE: AVLR) today announced the launch of a proposed underwritten public offering of $500 million in shares of its common stock, all of which are being offered by Avalara. Avalara also expects to grant the underwriters a 30-day option to purchase up to an additional $75 million in shares of common stock in the proposed offering at the public offering price, less the underwriting discounts and commissions.
Goldman Sachs & Co. LLC, BofA Securities, Morgan Stanley and Citigroup are acting as joint book-running managers for the offering.
The offering will be made pursuant to Avalara's shelf registration statement (including a base prospectus), which Avalara filed with the Securities and Exchange Commission ("SEC") today and became automatically effective upon filing, and a preliminary prospectus supplement and accompanying prospectus related to the offering, which Avalara will file with the SEC today and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus 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, or by email at email@example.com; or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at firstname.lastname@example.org.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares of common stock described above, 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.
This press release contains “forward-looking” statements that are based on information currently available to Avalara and Avalara’s current expectations and assumptions regarding capital market conditions, its business, the economy and other future conditions. Forward-looking statements include all statements that are not historical facts, such as statements concerning the terms, timing and size of the proposed offering of common stock, and can be identified by words such as “proposed,” “expect,” “will,” “may” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ from Avalara’s plans. These risks include, but are not limited to, whether Avalara will consummate the proposed offering on the expected terms, or at all, market and general economic conditions, whether Avalara will be able to satisfy the conditions required to close any sale of shares pursuant to the proposed offering, and other risks included in the section titled “Risk Factors” in Avalara’s filings and reports with the SEC, including in Avalara’s Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the SEC on February 28, 2020 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC today. In addition, forward-looking statements contained in this press release are based on assumptions that Avalara believes to be reasonable as of this date. Except as required by law, Avalara assumes no obligation to update these forward-looking statements as a result of new information, future events, changes in expectations or otherwise.