Intuit Announces Pricing of Secondary Offering of 1,548,700 Shares of Common Stock
MOUNTAIN VIEW, CA (STL.News) Intuit (the “Company”) (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp, announced Monday the pricing of an underwritten secondary offering by certain entities affiliated with Dan Kurzius, co-founder of Mailchimp (the “Selling Stockholder”) of 1,548,700 shares of the Company’s common stock at a public offering price of $668.95 per share. The shares are expected to be delivered on or about December 1, 2021, subject to customary closing conditions.
The 1,548,700 shares, which represent approximately 15.3% of the shares issued by the Company as partial consideration for the Company’s acquisition of The Rocket Science Group LLC (d/b/a Mailchimp), are being sold to satisfy certain tax obligations and for estate planning purposes. The Selling Stockholder will receive all of the net proceeds from the offering. The Company is not selling any shares of common stock in the offering and will not receive any proceeds from the offering.
Goldman Sachs & Co. LLC is acting as the sole book-running manager for the offering.
The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by Intuit with the Securities and Exchange Commission (the “SEC”) and was automatically effective upon filing on June 23, 2020. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering were filed with the SEC and are available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com.