Deal Details

Cricut Completes $306 Million IPO

Consumer

Cricut IPO

Summary

Cricut, Inc. (“Cricut” or the “Company”) (NASDAQ: CRCT), recently completed an initial public offering of 15,314,903 common shares at a price of $20.00 per share. The offering generated gross proceeds of $306.3 million, including $265.0 million for the Company and $41.3 million for the selling shareholders. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 2,297,235 shares of common stock from the Company and it’s selling shareholders. The Company expects to use the net proceeds of this offering for general corporate purposes.

Baird served as a co-manager on this offering.

About

Cricut has designed and built a creativity platform that enables an engaged and loyal community of 4.3 million users to turn ideas into beautiful, professional-looking handmade goods. Using Cricut’s highly versatile connected machines, design applications and accessories and materials, users create everything from personalized birthday cards and mugs and t-shirts to large-scale interior decorations and more. The Company has built its connected machines and design applications on a cloud-based software platform, enabling Cricut to update the functionality and features of existing physical and digital products and to release new products that seamlessly integrate with Cricut’s software platform. This makes the platform broadly extensible and empowers users to unlock ever-expanding creative potential.

Consumer

Cricut IPO