NEW YORK, May 20, 2024 /PRNewswire/ — Nationally recognized shareholder rights firm Julie & Holleman LLP is investigating the proposed $6.6 billion acquisition of Squarespace, Inc. (NASDAQ: SQSP) by private equity firm Permira. Julie & Holleman has already uncovered several conflicts of interest.
For a free, no-risk consultation, please visit https://julieholleman.com/squarespace-inc/, or contact firm partner Scott Holleman at scott@julieholleman.com.
Squarespace is a website building and hosting company based in New York City. It provides software as a service (Saas) for website building and hosting, including for e-commerce, allowing users to use pre-built website templates and drag-and-drop elements to create and modify webpages. The company was started in 2003 by Anthony Casalena when he was a university student. Casalena remains the company’s CEO and largest shareholder and holds majority voting power.
On May 13, 2024, Squarespace announced that it had agreed to be acquired by Permira for $44 per share in cash. Two of Squarespace’s largest shareholder—Casalena and private equity firm General Atlantic—are not selling their shares but will instead “roll over” their shares post-merger. The deal is expected to close by the fourth quarter of 2024.
Julie & Holleman, whose attorneys have helped secure hundreds of millions of dollars for shareholders, is concerned about the inadequate deal price. The $44 per share deal price is less than the recent IPO price of $48 per share and price targets of $50 per share established by Wall Street analysts. Julie & Holleman is also concerned about conflicts of interest relating to the rollover agreements. Casalena and General Atlantic will continue to share in the company’s upside while other shareholders are being cashed out.
Please visit https://julieholleman.com/squarespace-inc/ or contact partner Scott Holleman by email at scott@julieholleman.com or by telephone at (929) 415-1020 for more information.
Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm’s attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising.
CONTACT INFORMATION
Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com
SOURCE Julie & Holleman LLP