Wix.com Ltd., a web development platform, has raised a gross $127 million in its IPO on Nasdaq . The company originally planned to go public on the New York Stock Exchange, but switched to Nasdaq in October.
Wix announced the pricing of its initial public offering of 7, 700, 000 ordinary shares at a price to the public of $16.50 per share. The shares are expected to begin trading on The NASDAQ Global Market on November 6, 2013 under the symbol “WIX.” Of the shares in the offering, 5, 712, 446 shares are being offered by Wix and 1, 987, 554 shares are being offered by selling shareholders. Wix will not receive any proceeds from the sale of shares by the selling shareholders. Wix has granted the underwriters a 30-day option to purchase up to 1, 155, 000 additional shares at the initial public offering price.
J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint lead book-running managers for the offering. RBC Capital Markets, LLC is also acting as a book-running manager. Needham & Company, LLC and Oppenheimer & Co. Inc. are acting as co-managers.
Wix will not receive any proceeds from the sale of shares by shareholders.
About Wix.com Ltd.
Wix.com is a cloud-based web development platform with over 40 million registered users worldwide. Wix empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online.
Wix’s headquarters are in Tel Aviv with offices in San Francisco, New York and Dnepropetrovsk.