DoubleVerify Announces Pricing of Secondary Offering by Selling Stockholders

Rhea-AI Summary

DoubleVerify Holdings, Inc. (NYSE: DV) announced an underwritten offering of 12,500,000 shares of its common stock by Providence VII U.S. Holdings L.P. and Providence Butternut Co-Investment L.P. at $30.45 per share. The offering is expected to close on November 15, 2023. The underwriters have a 30-day option to purchase up to an additional 1,875,000 shares. DoubleVerify will not receive any proceeds from the sale. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the underwriters. The offering is being made through a prospectus supplement and accompanying prospectus.

NEW YORK--(BUSINESS WIRE)-- DoubleVerify Holdings, Inc. (NYSE: DV) (“DoubleVerify”) today announced the pricing of an underwritten offering of 12,500,000 shares of its common stock by Providence VII U.S. Holdings L.P. and Providence Butternut Co-Investment L.P. (collectively, “Providence”) at a price to the public of $30.45 per share. The offering is expected to close on November 15, 2023, subject to the satisfaction of customary closing conditions. The underwriters will have a 30-day option to purchase up to an additional 1,875,000 shares of common stock from Providence. DoubleVerify will not receive any proceeds from the sale of shares in the offering.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as the underwriters in the offering.

The offering of common stock is being made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus relating to the offering may be obtained from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, by facsimile at (212) 902-9316, or by email at prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on September 30, 2022 and became effective automatically. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov under “DoubleVerify Holdings, Inc.” 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.

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/20231113106179/en/

Investor Relations

Tejal Engman

DoubleVerify

IR@doubleverify.com

Media Contact

Chris Harihar

Crenshaw Communications

646-535-9475

chris@crenshawcomm.com

Source: DoubleVerify Holdings, Inc.

FAQ

What is the underwritten offering announced by DoubleVerify Holdings, Inc. (NYSE: DV)?

DoubleVerify announced an underwritten offering of 12,500,000 shares of its common stock by Providence VII U.S. Holdings L.P. and Providence Butternut Co-Investment L.P. at $30.45 per share.

When is the closing date for the offering?

The offering is expected to close on November 15, 2023.

Who are the underwriters for the offering?

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as the underwriters in the offering.

Will DoubleVerify receive any proceeds from the sale of shares in the offering?

DoubleVerify will not receive any proceeds from the sale of shares in the offering.