View:
United States securities and exchange commission logo
September 21, 2021
Matthew Oppenheimer
Chief Executive Officer
Remitly Global, Inc.
1111 Third Avenue, Suite 2100
Seattle, WA 98101
Re: Remitly Global,
Inc.
Amendment No. 1 to
Registration Statement on Form S-1
Response dated
September 17, 2021
File No. 333-259167
Dear Mr. Oppenheimer:
We have reviewed your response and have the following comments.
In some of our
comments, we may ask you to provide us with information so we may better
understand your
disclosure.
Please respond to this letter by amending your registration
statement and providing the
requested information. If you do not believe our comments apply to your
facts and
circumstances or do not believe an amendment is appropriate, please tell
us why in your
response.
After reviewing any amendment to your registration statement and
the information you
provide in response to these comments, we may have additional comments.
Unless we note
otherwise, our references to prior comments are to comments in our
September 16, 2021 letter.
Response dated September 17, 2021
General
1. We read your response
to comment 1. For all valuation dates and scenarios, please tell us
the amount of allocated
enterprise value between common and preferred stock and the
rationale/context
behind the allocation percentages.
2. We read your response
to comment 2. Please provide us a timeline that provides all
relevant events causing
increases in your common stock fair value and enterprise value
since and including
your December 22, 2020 valuation through the date of your response.
Ensure that this
timeline:
Identifies and
explains, in sufficient detail, material company-specific (financial
and/or operation
related) and market-specific events causing changes in value. To the
Matthew Oppenheimer
Remitly Global, Inc.
September 21, 2021
Page 2
extent that quantitative information is available (e.g.,
financial performance results,
increase in the demand for online remittance, etc.), provide the
relevant information.
To the extent that it is not practicable to quantify certain
events, provide relevant
qualitative information regarding their impact (known trends -
financial or
operational, additional markets entered, increased market share,
changes in the
market, etc.) and the significance of their impact (e.g.,
minimal, moderate, large).
Identifies and discusses key events associated with your
offering including:
o When your Board of Directors began contemplating this
offering and when it
was authorized;
o All discussions of enterprise value or IPO pricing, even on
an informal or
preliminary basis;
o When financial statements were finalized;
o When filings were made; and
o Dates of each event.
You may contact Stephen Kim at 202-551-3291 or Rufus Decker at
202-551-3769 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Donald Field at 202-551-3680 or Mara Ransom at 202-551-3264 with any
other
questions.
FirstName LastNameMatthew Oppenheimer Sincerely,
Comapany NameRemitly Global, Inc.
Division of
Corporation Finance
September 21, 2021 Page 2 Office of Trade
& Services
FirstName LastName