BigCommerce Announces Launch of Follow-on Public Offering

AUSTIN, Texas, Nov. 10, 2020 (GLOBE NEWSWIRE) -- BigCommerce Holdings, Inc. (“BigCommerce” or the “Company”) (Nasdaq: BIGC) today announced that it has commenced a follow-on public offering of its Series 1 common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “SEC”). The Company proposes to sell up to 1,000,000 shares of its Series 1 common stock in the offering, and the selling stockholders named in the registration statement, including certain members of management and entities affiliated with directors of the Company, are proposing to sell up to 4,000,000 shares of the Company’s Series 1 common stock in the offering. In addition, the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of Series 1 common stock. The Company will not receive any proceeds from the sale of the shares by the selling stockholders. 

J.P. Morgan and Barclays are serving as lead book-running managers for the proposed offering. Morgan Stanley, Jefferies and KeyBanc Capital Markets are acting as book-running managers. Canaccord Genuity, Needham & Company, Piper Sandler, Raymond James, Stifel and Truist Securities are acting as co-managers for the offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: [phone]; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at [phone] or by email at [e-mail].

In connection with this offering, BigCommerce announced today that Morgan Stanley & Co. LLC and Barclays Capital Inc., book-running managers in the Company’s recent initial public offering, are releasing the lock-up restriction with respect to certain shares of the Company’s Series 1 common stock held by the selling stockholders named in the registration statement, including certain officers and directors of BigCommerce. The release will take effect concurrently with this offering, and the shares may be sold only in connection with this offering. Except for the sale pursuant to this registered offering, the lock-up restrictions applicable to the selling stockholders named in the registration statement, including certain officers and directors of BigCommerce, shall remain in full force and effect until December 9, 2020, pursuant to the terms of the lock-up agreements entered into in connection with the Company’s initial public offering. In addition, the selling stockholders named in the registration statement and the officers and directors of BigCommerce have entered into new 90-day lock-up agreements in connection with the follow-on public offering of Series 1 common stock announced today.