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Avalara Announces Closing of Initial Public Offering and Full Exercise of the Underwriters Option to Purchase Additional Shares

Avalara, Inc. (NYSE: AVLR) today announced the closing of its initial
public offering of 8,625,000 shares of common stock, including the full
exercise by the underwriters of their option to purchase 1,125,000
additional shares of common stock, at a price to the public of $24.00
per share. The shares began trading on the New York Stock Exchange on
June 15, 2018 under the symbol “AVLR.”

Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Merrill Lynch acted as
book-running managers for the offering. JMP Securities, KeyBanc Capital
Markets, and Stifel acted as co-managers.

The offering was made only by means of a prospectus. Copies of the final
prospectus related to the offering may be obtained from Goldman Sachs &
Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, or
by telephone at 866-471-2526, or by email at prospectus-ny@ny.email.gs.com,
or from 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 email at prospectus-eq_fi@jpmchase.com.
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission.
This press release does 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.

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