Grid Dynamics Announces Pricing of Public Offering
Grid Dynamics Holdings (NASDAQ:GDYN) has announced the pricing of its public offering of 5,750,000 shares of common stock at $17.25 per share. The company expects to raise approximately $93.4 million in net proceeds, which will be used for working capital, capital expenditures, and general corporate purposes including acquisitions. The offering is expected to close on November 14, 2024. Grid Dynamics has granted underwriters a 30-day option to purchase up to 862,500 additional shares. J.P. Morgan Securities, William Blair & Company, and TD Cowen are acting as joint book-running managers, with Needham & Company as co-manager.
Grid Dynamics Holdings (NASDAQ:GDYN) ha annunciato il prezzo della sua offerta pubblica di 5.750.000 azioni di azioni ordinarie a 17,25 dollari per azione. L'azienda prevede di raccogliere circa 93,4 milioni di dollari in proventi netti, che saranno utilizzati per capitale circolante, spese in conto capitale e scopi aziendali generali, comprese le acquisizioni. Si prevede che l'offerta si chiuda il 14 novembre 2024. Grid Dynamics ha concesso agli intermediari un'opzione di acquisto di ulteriori 862.500 azioni per 30 giorni. J.P. Morgan Securities, William Blair & Company e TD Cowen stanno agendo come co-manager principali, con Needham & Company come co-manager.
Grid Dynamics Holdings (NASDAQ:GDYN) ha anunciado el precio de su oferta pública de 5,750,000 acciones de acciones ordinarias a $17.25 por acción. La compañía espera recaudar aproximadamente $93.4 millones en ingresos netos, que se utilizarán para capital de trabajo, gastos de capital y fines corporativos generales, incluidas adquisiciones. Se espera que la oferta cierre el 14 de noviembre de 2024. Grid Dynamics ha otorgado a los suscriptores una opción de 30 días para comprar hasta 862,500 acciones adicionales. J.P. Morgan Securities, William Blair & Company y TD Cowen actúan como gerentes de libro conjunto, con Needham & Company como co-gerente.
그리드 다이내믹스 홀딩스 (NASDAQ:GDYN)는 5,750,000 주의 보통주 공개 Offering 가격을 주당 17.25 달러로 발표했습니다. 회사는 약 9,340 만 달러의 순수익을 올릴 것으로 예상하고 있으며, 이 자금은 운영 자본, 자본 지출 및 인수와 같은 일반 기업 목적에 사용될 예정입니다. 이 공시는 2024년 11월 14일에 마감될 것으로 예상됩니다. 그리드 다이내믹스는 인수자들에게 30일 내에 최대 862,500주의 추가 매수 옵션을 부여했습니다. J.P. 모건 증권, 윌리엄 블레어 & 컴퍼니, TD 카우엔이 공동책임 매니저로 행동하고 있으며, 니드햄 & 컴퍼니가 공동 매니저로 활동하고 있습니다.
Grid Dynamics Holdings (NASDAQ:GDYN) a annoncé le prix de son offre publique de 5 750 000 actions de capital social au prix de 17,25 $ l'action. La société s'attend à lever environ 93,4 millions de dollars de produits nets, qui seront utilisés pour le fonds de roulement, les investissements et les objectifs généraux de l'entreprise, y compris les acquisitions. L'offre devrait se clôturer le 14 novembre 2024. Grid Dynamics a accordé aux souscripteurs une option de 30 jours pour acheter jusqu'à 862 500 actions supplémentaires. J.P. Morgan Securities, William Blair & Company et TD Cowen agissent en tant que responsables de livre conjoints, avec Needham & Company en tant que co-responsable.
Grid Dynamics Holdings (NASDAQ:GDYN) hat den Preis für sein öffentliches Angebot von 5.750.000 Aktien zum Preis von 17,25 $ pro Aktie bekannt gegeben. Das Unternehmen erwartet, dass es ungefähr 93,4 Millionen $ an Nettoerlösen erzielen wird, die für Betriebskapital, Investitionsausgaben und allgemeine Unternehmenszwecke, einschließlich Übernahmen, verwendet werden sollen. Es wird erwartet, dass das Angebot am 14. November 2024 abgeschlossen wird. Grid Dynamics hat den Underwritern eine 30-tägige Option eingeräumt, bis zu 862.500 zusätzliche Aktien zu kaufen. J.P. Morgan Securities, William Blair & Company und TD Cowen fungieren als gemeinsame Buchlaufmanager, während Needham & Company als Co-Manager tätig ist.
- Expected to raise $93.4 million in net proceeds
- Funds allocated for working capital and potential acquisitions
- Strong underwriting team including major financial institutions
- Potential dilution of existing shareholders' equity
- 5,750,000 new shares being issued with possibility of additional 862,500 shares
Insights
Closing of the offering is expected to occur on November 14, 2024, subject to customary closing conditions. In addition, Grid Dynamics granted the underwriters a 30-day option to purchase up to 862,500 additional shares of its common stock.
J.P. Morgan Securities LLC, William Blair & Company, L.L.C. and TD Cowen are acting as joint book-running managers for the offering. Needham & Company is acting as a co-manager for the offering.
The shares are being offered by Grid Dynamics pursuant to an automatic shelf registration statement on Form S-3 (File No. 333-283149), which became effective upon filing. The offering of the shares will be made only by means of a prospectus supplement and related base prospectus. Copies of the prospectus supplement and related base prospectus may be obtained, when available, from J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
This press release shall 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.
About Grid Dynamics
Grid Dynamics (NASDAQ: GDYN) is a leading provider of technology consulting, platform and product engineering, AI, and digital engagement services. Fusing technical vision with business acumen, we solve the most pressing technical challenges and enable positive business outcomes for enterprise companies undergoing business transformation. A key differentiator for Grid Dynamics is our 8 years of experience and leadership in enterprise AI, supported by profound expertise and ongoing investment in data, analytics, application modernization, cloud & DevOps, and customer experience. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. Grid Dynamics intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995 and includes this statement, in part, for the purposes of complying with such safe harbor provisions. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, statements about the closing of the offering. Most of the factors that could cause actual results of Grid Dynamics to differ materially from those expected and projected are outside Grid Dynamics’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) Grid Dynamics has a relatively short operating history and operates in a rapidly evolving industry, which makes it difficult to evaluate future prospects and may increase the risk that it will not continue to be successful and may adversely impact our stock price; (ii) Grid Dynamics may be unable to effectively manage its growth or achieve anticipated growth, particularly as it expands into new geographies, which could place significant strain on Grid Dynamics’ management personnel, systems and resources; (iii) Grid Dynamics’ revenues are highly dependent on a limited number of clients and industries that are affected by seasonal trends, and any decrease in demand for outsourced services in these industries may reduce Grid Dynamics’ revenues and adversely affect Grid Dynamics’ business, financial condition and results of operations; (iv) macroeconomic conditions, inflationary pressures, and the geopolitical climate, including the Russian invasion of
View source version on businesswire.com: https://www.businesswire.com/news/home/20241112797789/en/
Grid Dynamics Investor Relations:
investorrelations@griddynamics.com
Source: Grid Dynamics Holdings, Inc.
FAQ
What is the price per share for Grid Dynamics (GDYN) public offering?
How many shares is Grid Dynamics (GDYN) offering in its public offering?
How much money does Grid Dynamics (GDYN) expect to raise from the offering?