SQSP Merger Update: Johnson Fistel Continues to Investigate Squarespace and its Directors and Management Following Criticism of the Deal Valuation

Core Viewpoint - Johnson Fistel, LLP is investigating potential breaches of fiduciary duties by Squarespace's board regarding the proposed sale to Permira, focusing on whether the board adequately pursued alternatives and secured the best price for shareholders [1][2]. Group 1: Acquisition Details - Squarespace has agreed to an all-cash offer of $44.00 per share from Permira, which will result in Squarespace becoming a private company [2]. - Analyst projections for earnings and revenue growth indicate that Squarespace shares have historically traded at higher prices than the proposed acquisition price [2]. Group 2: Shareholder Concerns - Glazer Capital LLC criticized the $44.00 per share offer as inadequate, claiming that standard methodologies for transaction valuation were omitted, leading to significant undervaluation [3]. - The firm argues that the acquisition process appears self-serving, benefiting controlling shareholders and Permira at the expense of minority shareholders [3]. - Glazer Capital intends to vote against the acquisition at the upcoming Special Meeting [3].