Klaviyo drops after launching secondary offering by CEO
ReutersMay 13, 2025 9:00 PM
Shares of marketing automation firm Klaviyo Inc KVYO.N down 5.6% at $35.40 post-market after secondary offering launch
Boston, Massachusetts-based software firm commences $372 mln stock offering by co-founder and CEO Andrew Bialecki
Offering to cover tax obligations related to exercise of Bialecki's stock options, which expire this year, co says
Goldman Sachs and Morgan Stanley acting as jt lead bookrunners
Klaviyo has 276 mln shares outstanding for ~$10.4 bln market cap
KVYO shares on Tues closed up 4.5% at $37.50, trimming YTD loss to 9%. Stock hit record intraday high of $49.55 in Feb
18 of 23 analysts rate stock "strong buy" or "buy", rest have "hold"; median PT is $43.88, per LSEG data
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