Wilson Sonsini Goodrich & Rosati advised StockX on the deal.
Detroit-based global online marketplace StockX announced the conclusion of a $195 million secondary tender offering as well as an additional $60 million in Series E-1 primary shares at $3.8 billion valuation.
This latest financing represents a 35% increase over the $2.8 billion valuation following StockX’s $275 million Series E funding round closed in December 2020, on which Wilson Sonsini also advised. Altimeter Capital led the all-cash offer, with participation from existing investors and new institutional investor Dragoneer.
In 2020, StockX experienced a record year of accelerating quarterly growth with more than $400 million in revenue. Indeed, according to StockX’s press release, in just five years, the company has grown to become one of the largest and most trusted global marketplaces of its kind.
The Wilson Sonsini team advising StockX includes partners Megan Baier (Picture) and Robert Day, and associates David Sharon, Alexandra Perry, Sonali Sanyal, Sarah Won, and Amy Lucas.
Involved fees earner: Megan Baier – Wilson Sonsini Goodrich & Rosati; Robert Day – Wilson Sonsini Goodrich & Rosati; Amy Lucas – Wilson Sonsini Goodrich & Rosati; Alexandra Perry – Wilson Sonsini Goodrich & Rosati; Sonali Sanyal – Wilson Sonsini Goodrich & Rosati; Sarah won – Wilson Sonsini Goodrich & Rosati; David Sharon – Wilson Sonsini Goodrich & Rosati;
Law Firms: Wilson Sonsini Goodrich & Rosati;