LegalZoom repurchases $45.1M of stock from LucasZoom concurrent with its secondary offering of 16.1M shares

LEGALZOOM.COM, INC.

Repurchased 4,718,755 shares at $9.55/share from LucasZoom, total $45.1M, under existing buyback program.
LucasZoom sold 14M shares in secondary at $10.00; underwriters exercised option for 2.1M more shares.
Company received no proceeds from secondary offering; repurchase funded from cash on hand.
Repurchase price equal to price paid by underwriters to selling stockholder; closed Sept 11, 2023.
Transaction structured as stock repurchase per Section 302 of the Code for tax purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LEGALZOOM.COM, INC. entered into Stock Purchase Agreement with LucasZoom, LLC valued at $45.1 million (effective 2023-09-05).

Action: entry
Agreement: equity purchase
Counterparty: LucasZoom, LLC
Value: $45.1 million
Effective: 2023-09-05

Exact text from the filing

On September 5, 2023, LegalZoom.com, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with LucasZoom, LLC (the “Selling Stockholder”).

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LEGALZOOM.COM, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-232599

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