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Pluralsight, Inc. Announces Proposed Follow-On Offering by Selling Stockholders

SILICON SLOPES, Utah, March 04, 2019 (GLOBE NEWSWIRE) -- Pluralsight, Inc. (PS) announced today the commencement of a proposed underwritten public offering of 13,558,464 shares of its Class A common stock by certain selling stockholders. Certain selling stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 2,033,770 shares of Class A common stock. Pluralsight will not receive any of the proceeds from the sale of the shares of its Class A common stock being offered by the selling stockholders.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are acting as lead book-running managers for the offering. Barclays Capital Inc., BofA Merrill Lynch and Citigroup Global Markets Inc. are acting as book-running managers. KeyBanc Capital Markets Inc., Raymond James & Associates, Inc., Needham & Company, LLC, SunTrust Robinson Humphrey, Inc., First Analysis Securities Corporation and Robert W. Baird & Co. Incorporated are acting as co-managers.  

Concurrently with the proposed public offering of Class A common stock, Pluralsight is offering to qualified institutional buyers, in an offering exempt from registration under the Securities Act of 1933, as amended, $450 million aggregate principal amount of convertible senior notes due 2024. Pluralsight also expects to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $67.5 million aggregate principal amount of the notes. The public offering of Class A common stock is not contingent upon the consummation of the concurrent notes offering, and the concurrent notes offering is not contingent upon the consummation of the public offering of Class A common stock.

The proposed public offering of Class A common stock will be made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.

A registration statement relating to the offering of Class A common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The shares of Class A common stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Pluralsight
Pluralsight is an enterprise technology skills platform that delivers a unified, end-to-end learning experience for businesses across the globe. Through a subscription service, companies are empowered to move at the speed of technology, increasing proficiency, innovation and efficiency. Founded in 2004 and trusted by Fortune 500 companies, Pluralsight provides members with on-demand access to a digital ecosystem of learning tools, including adaptive skill tests, directed learning paths, expert-authored courses, interactive labs, and analytics. For more information, visit www.pluralsight.com.

Media Contact:
DJ Anderson
Communications/Press
Pluralsight
801-784-9007
press@pluralsight.com

Investor Relations Contact:
Mark McReynolds
Investor Relations
Pluralsight
801-784-9007
mark-mcreynolds@pluralsight.com