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Thoughtworks Announces Closing of Public Offering and Full Exercise of Over-Allotment Option

Thoughtworks Announces Closing of Public Offering and Full Exercise of Over-Allotment Option

Thoughtworks (Nasdaq: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced that its parent company, Thoughtworks Holding, Inc. (formerly known as Turing Holding Corp.) closed its initial public offering of 42,368,421 shares of its common stock, which includes the full exercise of the underwriters' option to purchase 5,526,315 additional shares of common stock, at an initial public offering price of $21.00 per share. The gross proceeds to Thoughtworks from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $345 million.  Thoughtworks intends to use all of the net proceeds of the offering for general corporate purposes.  Thoughtworks will not receive any proceeds from the shares sold by the selling stockholders in the offering.

 

Goldman Sachs & Co. LLC and J.P. Morgan acted as lead joint bookrunning managers and representatives of the underwriters for the offering. Credit Suisse is acting as a bookrunning manager for the offering. BofA Securities, Citigroup, RBC Capital Markets, HSBC, Baird, Cowen, Piper Sandler, Wedbush Securities, William Blair and Wolfe | Nomura Strategic Alliance are acting as bookrunners for the offering. CastleOak Securities, L.P., Mischler Financial Group, Inc. and Siebert Williams Shank are acting as co-managers for the offering.

 

A final prospectus relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov.

 

Copies of the prospectus relating to this offering can be obtained from any of the following sources:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; or
  •  J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmorgan.com.

 

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on September 14, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.