Squarespace, Permira amend agreement, increase offer price to $46.50 per share

Squarespace and Permira announced that they have agreed to amend their previously announced definitive agreement. Under the terms of the amended agreement, Squarespace stockholders will receive $46.50 per share in cash and an aggregate transaction value of approximately $7.2 billion. The revised offer price represents an increase of 5.7% over the previously agreed offer price of $44.00 per share, a premium of 36.4% over Squarespace’s 90-day volume weighted average trading price of $34.09 and a premium of 21.8% over Squarespace’s 52-week high share price of $38.19 as of May 10, 2024. The transaction also represents over 20x enterprise value / 2025 unlevered free cash flow1, representing a significant premium to peers.