Deal Details

Pattern Completes $300.0 Million Initial Public Offering

Technology & Services

Pattern initial public offering

Summary

Pattern Group Inc. (“Pattern”) (NASDAQ: PTRN) recently completed its initial public offering of 21,428,572 shares of its Series A common stock, 10,714,286 of which were sold by Pattern and 10,714,286 of which were sold by certain selling stockholders, at a price to the public of $14.00 per share, generating gross proceeds of approximately $300.0 million. Pattern will not receive any proceeds from any sale of shares by the selling stockholders. In addition, Pattern has granted the underwriters a 30-day option to purchase up to an additional 3,214,285 shares of its Series A common stock. Pattern intends to use the net proceeds from the offering for working capital, general corporate purposes and to fund growth strategies.

Baird served as a bookrunner on this transaction.

About

Pattern’s mission is to help brands accelerate profitable growth on global ecommerce marketplaces. Today, their proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI“) models, Pattern strives to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service. The result is a powerful platform that allows brands to navigate the complexity of operating on global ecommerce marketplaces at scale. Pattern is headquartered in Lehi, Utah.