Global-E Online Announces 12M Share Offering By Selling Shareholders

Global-E Online Ltd (NASDAQ:GLBE) announced that certain shareholders intend to sell 12 million of its ordinary shares through a secondary offering.
The selling shareholders expect to grant the underwriters a 30-day option to purchase up to an additional 1.8 million ordinary shares at the public offering price.
Global-e is not selling any shares in the offering and will not receive any proceeds.
Goldman Sachs & Co LLC, Morgan Stanley & Co LLC, Jefferies LLC, and BofA Securities Inc will serve as lead book-running managers for the proposed offering.
Price Action: GLBE shares closed lower by 6.75% at $74.28 on Tuesday.