SQUARESPACE AND PERMIRA AMEND MERGER AGREEMENT TO INCREASE OFFER PRICE TO $46.50 PER SHARE IN CASH

Core Viewpoint - Squarespace, Inc. has amended its agreement with Permira, increasing the purchase price to $46.50 per share, representing a total transaction value of approximately $7.2 billion, which reflects a 36% premium over the 90-day volume weighted average trading price prior to the announcement [1][2]. Transaction Details - The revised offer price is a 5.7% increase from the previously agreed price of $44.00 per share and represents a premium of 36.4% over Squarespace's 90-day volume weighted average trading price of $34.09 [2]. - The transaction is structured as a tender offer, requiring a majority of shares held by unaffiliated stockholders to tender into the offer [3]. - The amended terms have been unanimously approved by an independent special committee of Squarespace's Board of Directors [1][3]. Statements from Leadership - The Chairman of the Special Committee expressed satisfaction with the revised terms, emphasizing the focus on maximizing value and certainty for unaffiliated stockholders [4]. - A partner at Permira highlighted the importance of the unanimous approval from Squarespace's Board and the opportunity for stockholders to capture immediate value through the tender offer [4]. Future Implications - Upon completion of the merger, Squarespace's common stock will no longer be publicly listed, transitioning the company to a privately-held entity [5]. - A Recommendation Statement will be issued within nine business days, and a previously scheduled special meeting of stockholders has been canceled [6]. Advisory Information - J.P. Morgan is acting as the financial advisor to Squarespace, while Goldman Sachs & Co LLC is advising Permira [7][8].