PubMatic Announces Pricing of Initial Public Offering

Rhea-AI Summary

PubMatic, Inc. has priced its initial public offering (IPO) at $20.00 per share, totaling 5,900,000 shares of Class A common stock. The company is offering 2,655,000 shares while selling stockholders will offer 3,245,000 shares. An option for underwriters to purchase an additional 885,000 shares is also available. Trading on Nasdaq begins December 9, 2020, under the symbol “PUBM,” and the offering is set to close on December 11, 2020. Jefferies and RBC Capital Markets are leading the offering. The press release includes forward-looking statements regarding PubMatic's business prospects.

Positive

• Initial public offering priced at $20.00 per share, indicates strong investor interest.
• Potential for raising substantial capital with an option for underwriters to purchase an additional 885,000 shares.

Negative

• Selling stockholders offer more shares than the company, indicating potential dilution of existing shares.
• No proceeds from the selling stockholders' shares will benefit the company, limiting its financial gain from the IPO.

REDWOOD CITY, Calif., Dec. 08, 2020 (GLOBE NEWSWIRE) -- PubMatic, Inc. (Nasdaq: PUBM) today announced the pricing of its initial public offering of 5,900,000 shares of Class A common stock at a price to the public of $20.00 per share. PubMatic is offering 2,655,000 shares and certain selling stockholders are offering 3,245,000 shares. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 885,000 additional shares of common stock at the initial public offering price, less underwriting discounts. PubMatic will not receive any proceeds from any sale of shares by the selling stockholders.

The shares are expected to begin trading on the Nasdaq Global Market on December 9, 2020 under the ticker symbol “PUBM.” The offering is expected to close on December 11, 2020, subject to customary closing conditions.

Jefferies LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the proposed offering. JMP Securities LLC, KeyBanc Capital Markets, Oppenheimer & Co. Inc., and Raymond James & Associates, Inc. are acting as co-managers for the proposed offering.

The offering of these securities is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340 or by email at prospectus_department@jefferies.com; or RBC Capital Markets, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.com.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission on December 8, 2020. 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.

Forward Looking Statements
This press release contains forward looking statements, including statements regarding the proposed initial public offering. These statements are not historical facts but rather are based on PubMatic’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those in PubMatic’s registration statement filed with the Securities and Exchange Commission.

Press Contact:
Ben Billingsley
Broadsheet Communications for PubMatic
pubmaticteam@broadsheetcomms.com

Investors:
Dylan Solomon
The Blueshirt Group for PubMatic
dylan@blueshirtgroup.com 

FAQ

What is the price of PubMatic's initial public offering?

PubMatic's initial public offering is priced at $20.00 per share.

How many shares are being offered in PubMatic's IPO?

A total of 5,900,000 shares of Class A common stock are being offered.

When will PubMatic begin trading on Nasdaq?

PubMatic is expected to begin trading on Nasdaq on December 9, 2020.

Who are the underwriters for PubMatic's IPO?

Jefferies and RBC Capital Markets are acting as joint book-running managers for the offering.

What is the symbol for PubMatic's stock?

PubMatic's stock will trade under the symbol 'PUBM' on Nasdaq.