Pattern Group Inc. (NASDAQ: PTRN) announced a public offering of 8 million shares of Series A common stock to be sold by an entity affiliated with Knox Lane LP, a pre-IPO stockholder of the company. The selling stockholder will grant underwriters a 30-day option to purchase up to an additional 1.2 million shares.

Pattern will not receive any proceeds from the offering, according to the company's statement. All net proceeds will go to the selling stockholder. The offering remains subject to market conditions with no assurance regarding completion timing or final terms.

J.P. Morgan and Goldman Sachs serve as lead book-running managers for the proposed offering. Evercore ISI and Jefferies act as joint book-running managers, while Baird, BMO Capital Markets, KeyBanc Capital Markets, Needham & Company, Stifel, and William Blair serve as additional book-running managers.

A registration statement for the shares has been filed with the Securities and Exchange Commission but has not yet become effective. The securities cannot be sold until the registration statement becomes effective.

Pattern operates an ecommerce acceleration platform that serves global brands across more than 70 marketplaces including Amazon, TikTok Shop, Walmart.com, Target.com, eBay, Tmall, JD, and Mercado Libre. The company uses proprietary technology and artificial intelligence to optimize advertising, content management, logistics, pricing, and customer service for brands.