DoubleVerify Announces Launch of Secondary Offering

Rhea-AI Summary

DoubleVerify announced a secondary public offering of 8,000,000 shares of common stock by Providence VII U.S. Holdings and other existing stockholders. The underwriters will have a 30-day option to purchase an additional 1,200,000 shares. DoubleVerify will not receive any proceeds from this offering, which is being managed by J.P. Morgan and Goldman Sachs as lead bookrunning managers. A registration statement has been filed with the SEC but has not yet become effective, meaning no shares can be sold until it is.

Positive

• None.

Negative

• No proceeds will be received by DoubleVerify from the offering, which may indicate a lack of immediate financial benefit to the company.
• The secondary offering may dilute the ownership percentage of existing shareholders.

NEW YORK--(BUSINESS WIRE)-- DoubleVerify Holdings, Inc. (NYSE: DV) (“DoubleVerify”) today announced the launch of an underwritten secondary public offering of 8,000,000 shares of common stock by Providence VII U.S. Holdings L.P. (“Providence”) and other existing stockholders of DoubleVerify. The underwriters will have a 30-day option to purchase up to an additional 1,200,000 shares of common stock from Providence and the other selling stockholders. DoubleVerify will not receive any proceeds from the sale of shares in the offering.

J.P. Morgan and Goldman Sachs & Co. LLC are acting as joint lead bookrunning managers for the secondary offering. Barclays, RBC Capital Markets and Truist Securities are acting as joint bookrunning managers for the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmorgan.com or by telephone at (866) 803-9204; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About DoubleVerify

DoubleVerify is a leading software platform for digital media measurement and analytics. Our mission is to make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. Hundreds of Fortune 500 advertisers employ our unbiased data and analytics to drive campaign quality and effectiveness, and to maximize return on their digital advertising investments – globally. DoubleVerify is majority owned by Providence Equity Partners, a premier global private equity firm with approximately $45 billion in aggregate capital commitments.

Forward-Looking Statements

This press release includes “forward-looking statements,” including with respect to the proposed secondary offering. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211115006281/en/

Media

Chris Harihar

Crenshaw Communications

646-535-9475

chris@crenshawcomm.com



Investor Relations

Tejal Engman

DoubleVerify

IR@doubleverify.com

Source: DoubleVerify Holdings, Inc.

FAQ

What is the purpose of the secondary offering by DoubleVerify?

The purpose is to facilitate the sale of shares by existing stockholders, specifically Providence VII U.S. Holdings.

How many shares are being offered in the DoubleVerify secondary offering?

DoubleVerify is offering 8,000,000 shares, with an additional option for underwriters to purchase 1,200,000 more.

Will DoubleVerify receive any money from the secondary offering?

No, DoubleVerify will not receive any proceeds from the sale of shares in this offering.

Who is managing the secondary offering for DoubleVerify?

J.P. Morgan and Goldman Sachs are acting as the joint lead bookrunning managers for the offering.

What happens to the shares until the registration statement becomes effective?

The shares cannot be sold or offered for purchase until the registration statement filed with the SEC becomes effective.