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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Poshmark Inc | NASDAQ:POSH | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 17.90 | 16.37 | 17.90 | 0 | 00:00:00 |
From Feb 2022 to Feb 2025
By Colin Kellaher
Shares of Poshmark Inc. jumped more than 10% in premarket trading Tuesday after the online fashion marketplace agreed to be acquired by South Korean internet giant Naver Corp. for about $1.2 billion.
Naver will pay $17.90 a share in cash for Poshmark, a 15% premium to Monday's closing price of $15.57 for the Redwood City, Calif., company.
However, the takeover price is less than half of Poshmark's $42 initial public offering price and well below the all-time high of $104.98 the stock hit on the day of its trading debut. in January 2021.
The deal is slated to close by the first quarter of 2023.
Poshmark shares were recently up nearly 12% to $17.38 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 04, 2022 06:13 ET (10:13 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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