ZipRecruiter, which operates an online job marketplace, is expected to begin trading on the NYSE on Wednesday, May 26, 2021, according to an amendment filed with the SEC on Friday.
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In its latest filing, the company also disclosed the number of Class A shares to be sold by existing shareholders, updated the sale price history of its stock, and disclosed financials for the quarter ended March 31, 2021. The company is holding an Investor Day on Monday, May 10, at 11:00am ET.
The Registered Stockholders plan to sell up to 86.6 million Class A shares.
In January 2021, 50,000 shares were repurchased from a former employee at $9 per share. Management estimated the fair value to be $25.04 per share as of April 19, 2021. If the company listed its shares at $25.04, it would command a fully diluted market value of $3.3 billion.
None of the company's shareholders will be subject to the standard 180-day lock-up agreement found in most IPOs.
ZipRecruiter was founded in 2010 and booked $430 million in revenue for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol ZIP. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Goldman Sachs, J.P. Morgan, Barclays, Evercore ISI, William Blair, and Raymond James will serve as financial advisors.
