1stdibs.com, Inc 8-K, filed Jun 10, 2024
1stdibs.com, Inc. (DIBS)
8-K
2024-06-10
For: 2024-06-10
View Original
Added on
April 06, 2026
About this 8-K
1stdibs.com, Inc filed this 8-K on June 10, 2024.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 10, 2024
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(Exact name of registrant as specified in its charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter). Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 7.01 Regulation FD Disclosure.
On June 10, 2024, 1stdibs.com, Inc. (the “Company”) issued a press release announcing the completion of the Company’s previously announced share repurchase program, pursuant to which the Company repurchased approximately 4.9 million shares at an average per share price of $5.12 for a total of $25.2 million.
A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.
The information included in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit Number | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| By: | /s/ David S. Rosenblatt | ||||
Dated: June 10, 2024 | David S. Rosenblatt Chief Executive Officer | ||||
Exhibit 99.1
1stDibs Announces Completion of $25.2 million Share Repurchase Program
stdibs.com, Inc. (Nasdaq: DIBS), a leading marketplace for extraordinary design, today announced the successful completion of its share repurchase program in which the Company repurchased approximately 4.9 million shares at an average per share price of $5.12 for a total of $25.2 million. This total includes approximately 3.0 million shares repurchased from Insight Partners at an average price per share of $5.23 in a privately-negotiated transaction.
“We are pleased to announce the successful completion of our share repurchase program,” said David Rosenblatt, 1stDibs Chief Executive Officer. “By buying back shares at prices that reflect a significant discount both to the market and to our assessment of intrinsic value, we have enhanced shareholder value as we work towards achieving profitability. This share repurchase program reduced our outstanding share count while maintaining our strong cash position, situating us well for future growth.”
About 1stDibs:
1stDibs is a leading online marketplace for connecting design lovers with highly coveted sellers and makers of vintage, antique, and contemporary furniture, home décor, art, jewelry, watches and fashion.
Investor Relations Contact:
Kevin LaBuz, Head of Investor Relations & Corporate Development
investors@1stdibs.com
Media Contact:
Jennifer Miller
jennifer.miller@1stdibs.com
Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included or incorporated by reference in this Press Release are forward-looking statements. These forward-looking statements may be identified by terms such as “accelerate,” “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “demand,” “estimate,” “expand,” “expect,” “focus,” “intend,” “may,” “might,” “objective,” “ongoing,” “opportunity,” “outlook,” “plan,” “potential,” “predict,” “progress,” “project,” “should,” “target,” “will,” “would,” or the negative of these terms, or other comparable terminology or similar expressions, although not all forward-looking statements may contain such terms. These forward-looking statements include, without limitation, statements regarding the share repurchase program’s effect on the Company’s future growth, and the Company’s work towards achieving profitability. These forward-looking statements are based on the Company’s current expectations and projections about future events and various assumptions, and are not a guarantee that the Company will actually achieve the results, objectives, intentions, or expectations disclosed in the forward-looking statements. These forward-looking statements involve a number of risks and uncertainties or other assumptions, many of which are beyond the Company’s control, that may cause actual results to differ materially from those expressed or implied by these