Viant Launches 8.5M Share Secondary Offering by Vanderhook Entity
DSP sits 39% above its 52-week low of $8.11.
Summary
Viant Technology announced an underwritten public offering of 8.5 million Class A shares by selling stockholder Capital V LLC, the Vanderhook family entity, with underwriters holding a 30-day option for up to 1.275 million additional shares from the company. The company receives no proceeds from the secondary shares, only from any option shares exercised. The offering is subject to market conditions, and pricing terms are not yet disclosed. The stock slid on the news, adding significant supply to the float and pressuring the stock.
At the time of this announcement, DSP was trading at $11.23 on NASDAQ in the Technology sector, with a market capitalization of approximately $823.1M. The 52-week trading range was $8.11 to $14.80. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: BusinessWire.