Sidley Advises on Klaviyo’s IPO

Klaviyo, Inc. (“Klaviyo”) has announced the pricing of its initial public offering of 19,200,000 shares of its Series A common stock at an initial public offering price of $30 per share. The offering consists of 11,507,693 shares of Series A common stock offered by Klaviyo and 7,692,307 shares of Series A common stock to be sold by certain of Klaviyo’s existing stockholders. The shares are expected to begin trading on the New York Stock Exchange on September 20, 2023 under the symbol “KVYO.” The IPO is expected to close on September 22, 2023, subject to customary closing conditions. Klaviyo “powers smarter digital relationships, making it easy for businesses to capture, store, analyze, and predictively use their own data to drive measurable, high-value outcomes.”

Sidley represented the underwriters in the offering with a Sidley team led by partners Frank Rahmani (Capital Markets, Emerging Companies and Venture Capital) and Sam Gandhi (Capital Markets), and included Helen Theung and Nicole Garrett (Capital Markets); Dženela Bečić (M&A); Benjamin L. Nager (Securities Enforcement and Regulatory); Eric Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Rachel Kleinberg and Jonathan Westreich (Tax); Glenn Nash, Ida Ebeid, and Paul Kariyawasam (Technology Transactions); Colleen Theresa Brown, Denise Kara, and Mitchell Noordyke (Privacy and Cybersecurity); Jen Fernandez (International Trade); Cathryn Le Regulski and Sara Salmonson (Labor and Employment); Michael Mann (White Collar: Government Litigation and Investigations); and Brian Earl (Commercial Litigation and Disputes).