Press Release

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

March 7, 2019

SILICON SLOPES, Utah, March 07, 2019 (GLOBE NEWSWIRE) -- Pluralsight, Inc. (NASDAQ: PS) today announced the pricing of an underwritten public offering of 13,558,464 shares of its Class A common stock by certain selling stockholders at a public offering price of $29.25 per share.  Such selling stockholders also granted 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 proceeds from the sale of the shares of its Class A common stock being offered by the selling stockholders. This offering is expected to close on March 11, 2019, subject to customary closing conditions.

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.  

Pluralsight also announced today the pricing of $550 million aggregate principal amount of 0.375% convertible senior notes due 2024 in a concurrent private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The aggregate principal amount of the offering was increased from the previously announced offering size of $450 millionPluralsight also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $83.5 million aggregate principal amount of the notes.  The sale of the notes to the initial purchasers is expected to settle on March 11, 2019, subject to customary closing conditions, and is expected to result in net proceeds to Pluralsight of approximately $535.3 million (or approximately $616.7 million if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by Pluralsight (assuming no exercise of the initial purchasers’ option). 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 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 Class A common stock has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

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 Pluralsight IQ, 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
ir@pluralsight.com

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Source: Pluralsight, Inc.