BigCommerce announced the pricing of its initial public offering of 9,019,565 shares of its Series 1 common stock at a price of $24 per share. BigCommerce is offering 6,850,000 shares of Series 1 common stock and the selling stockholders named in the prospectus are offering 2,169,565 shares of Series 1 common stock.
BigCommerce has granted the underwriters a 30-day option to purchase up to an additional 1,027,500 shares of its Series 1 common stock, and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 325,435 shares of Series 1 common stock, in each case at the initial public offering price.
The shares began trading on the Nasdaq Global Market on August 5, 2020, and the value has soared by more than 200% since.
So what does all of this mean?
BigCommerce CEO Brent Bellm announced that with the proceeds from the IPO, they’ll look to further invest in the research and development of the BigCommerce platform. Bellm states, “We will continue to innovate our product and service with the goal of powering your eCommerce prosperity. Going public does not change our mission of giving customers of all sizes the tools you need to build, innovate and grow successful eCommerce businesses.
“The BigCommerce platform meets you where you are as a business, whether you’re new to selling online or a Forbes Global 2000 enterprise. We will continue to update the platform in ways that bring the most benefit to the most merchants. Our IPO is just one step in the journey on this mission.”
As a public company, BigComemrce will be able to provide their stakeholders with more transparency into their size and momentum. They hope that’ll give customers confidence that they’ve partnered with an industry-leading platform that’s poised to innovate for many years to come.
Bellm concludes, “I’ll end by emphasizing my gratitude to the many people in the BigCommerce ecosystem. To our customers, thank you again for inspiring and enabling our growth. Everything we do is for you. I’d love to see you at our next Town Hall on August 27.
“To our technology and agency partners, we are inspired to grow in true partnership with you. To our employees, every single one of you has played a role in making this historic moment possible. You are the heartbeat of our company, and I thank you for your energy, dedication and passion. To our board members and investors, thank you for your financial backing, counsel, and guidance.”
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