On May 13, 2024, Squarespace, Inc., the design-driven platform helping entrepreneurs build brands and businesses online, announced that it has entered into a definitive agreement with Permira, the global private equity firm, to go private in an all-cash transaction valued at approximately $6.9 billion. Under the terms of the agreement, Squarespace stockholders will receive $44.00 per share in cash, representing a premium of approximately 29 percent over Squarespace's 90-day volume weighted average trading price, and a premium of 15 percent over Squarespace's closing share price of $38.19 on the New York Stock Exchange on May 10, 2024. Squarespace founder and CEO Anthony Casalena will roll over a substantial majority of his existing equity and continue to be one of the largest shareholders following the transaction. Wilson Sonsini Goodrich & Rosati is representing Mr. Casalena in the transaction.

Upon completion of the transaction, Squarespace will become a privately held company with the flexibility and resources to invest in enabling entrepreneurs to build better online brands and more easily transact with their customers. Mr. Casalena will continue to serve as Squarespace’s CEO and board chairman, and will lead the business in all aspects of its operations, along with Squarespace’s current leadership team. The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by the fourth quarter of 2024.

The Wilson Sonsini team representing Mr. Casalena in the transaction includes Marty Korman, Todd Cleary, Megan Baier, Amy Simmerman, Catherine Riley Tzipori, and Derek Wallace.

For more information, please see Squarespace’s news release.