Market Overview

Avalara Announces Proposed Public Offering of Common Stock


Avalara, Inc. (NYSE:AVLR) today announced the launch of a proposed
underwritten public offering of 3,000,000 shares of its common stock,
all of which are being offered by Avalara. Avalara also expects to grant
the underwriters a 30-day option to purchase up to an additional 450,000
shares of common stock in the proposed offering at the public offering

Goldman Sachs & Co. LLC is acting as lead book-running manager for the
offering, with BofA Merrill Lynch and Morgan Stanley also acting as
book-running managers. Canaccord Genuity, JMP Securities, KeyBanc
Capital Markets, Needham & Company, Raymond James, Stifel and William
Blair are acting as co-managers.

The offering will be made only by means of a prospectus. Copies of the
preliminary prospectus related to the offering may be obtained from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, NY 10282, or by telephone at 866-471-2526, or by email
from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by
email at;
or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014.

A registration statement relating to these securities has been filed
with the Securities and Exchange Commission ("SEC") but has not yet
become effective. These securities may not be sold nor may offers to buy
be accepted prior to the time that the registration statement becomes
effective. This press release does not constitute an offer to sell or
the solicitation of an offer to buy the shares of common stock described
above, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains "forward-looking" statements that are based
on information currently available to Avalara and Avalara's current
expectations and assumptions regarding capital market conditions, its
business, the economy and other future conditions. Forward-looking
statements include all statements that are not historical facts, such as
statements concerning the terms, timing and size of the proposed
offering of common stock, and can be identified by words such as
"proposed," "expect," "will," "may" or similar expressions and the
negatives of those terms. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause actual
events to differ from Avalara's plans. These risks include, but are not
limited to, whether Avalara will consummate the proposed offering on the
expected terms, or at all, market and general economic conditions,
whether Avalara will be able to satisfy the conditions required to close
any sale of shares pursuant to the proposed offering, and other risks
included in the section titled "Risk Factors" in Avalara's filings and
reports with the SEC, including in Avalara's Quarterly Report on Form
10-Q for the quarter ended March 31, 2019, which was filed with the
Securities and Exchange Commission on May 8, 2019. In addition,
forward-looking statements contained in this press release are based on
assumptions that Avalara believes to be reasonable as of this date.
Except as required by law, Avalara assumes no obligation to update these
forward-looking statements as a result of new information, future
events, changes in expectations or otherwise.

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