Thryv Holdings, which provides a SaaS customer experience tools and market solutions to SMBs, filed on Tuesday to register its shares with the SEC and complete a direct listing on the NYSE. The company will not raise new capital as the shares listed will be sold by existing shareholders.
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The company last issued 68,880 shares in an August 2020 private placement at $10.17 per share. Registered Stockholders have filed to sell up to 26.7 million shares in connection with the listing. If the company listed its shares at $10.17, Thryv Holdings would command a fully diluted market value of $319 million.
Formerly Dex Media, the company traded on the Nasdaq under the symbol DXM until 2016, when it was delisted and declared bankruptcy; the restructured company later changed its name to Thryv Holdings in July 2019. Thryv Holdings is one of the largest companies in the US that provides SMBs with print and digital marketing solutions and SaaS end-to-end customer experience tools. As of June 30, 2020, the company served over 360,000 clients through its marketing services and SaaS segments.
The DFW Airport, TX-based company was founded in 2012 and booked $1.3 billion in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol THRY. Thryv Holdings filed confidentially on February 3, 2020. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, I-Bankers Securities will serve as financial advisor. No pricing terms were disclosed.
