DoubleVerify Announces Pricing of Secondary Offering by Selling Stockholders

Rhea-AI Summary

DoubleVerify Holdings, Inc. (NYSE: DV) announced the pricing of a secondary offering of 10 million shares at $26.40 each, orchestrated by Providence VII U.S. Holdings L.P. and affiliates. The offering is set to close on November 15, 2022, while Goldman Sachs & Co. LLC serves as the underwriter. Notably, DoubleVerify will not receive proceeds from this sale. This follows a registration statement filed with the SEC on September 30, 2022, which is effective.

Positive

• Large secondary offering of 10 million shares priced at $26.40 reflects confidence from Providence investors.

Negative

• DoubleVerify will not receive any proceeds from the sale, limiting its financial benefit from the offering.

NEW YORK--(BUSINESS WIRE)-- DoubleVerify Holdings, Inc. (NYSE: DV) (“DoubleVerify”) today announced the pricing of an underwritten offering of 10,000,000 shares of its common stock by Providence VII U.S. Holdings L.P., Providence Public Master L.P. and Providence Butternut Co-Investment L.P. (collectively, “Providence”) at a price to the public of $26.40 per share. The offering is expected to close on November 15, 2022, subject to the satisfaction of customary closing conditions. The underwriter will have a 30-day option to purchase up to an additional 1,500,000 shares of common stock from Providence. DoubleVerify will not receive any proceeds from the sale of shares in the offering.

Goldman Sachs & Co. LLC is acting as the underwriter 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 supplement and accompanying 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.

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/20221110006229/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 DoubleVerify's stock symbol?

DoubleVerify's stock symbol is DV.

When is the closing date for DoubleVerify's share offering?

The share offering is expected to close on November 15, 2022.

Who is underwriting the share offering for DoubleVerify?

Goldman Sachs & Co. LLC is acting as the underwriter for the share offering.

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

A total of 10 million shares are being offered in the secondary offering.

What price are the shares in DoubleVerify's offering?

The shares in the offering are priced at $26.40 each.