DoubleVerify down as top holder Providence sells shares

DoubleVerify Holdings

06/03/2023 12:44

(Updates with expected price range)
    ** DoubleVerify Holdings Inc's  DV.N  shares down nearly 4%
at $26.66 premarket after digital media analytics firm launches
secondary offering
    ** Providence Equity Partners selling 12.5 mln shares, DV
says
    ** Sources say underwriters JP Morgan and Barclays marketing
shares in range of $26.65-$27.15, up to 3.8% discount to stock's
Fri close
    ** #1 holder Providence owns ~41% stake in DV, or roughly
67.5 mln shares, per Refinitiv data
    ** Late last Weds, DV posted Q4 rev beat and forecasted 2023
rev of $550-$564 mln, 23% yr/yr increase at the midpoint,
in-line with Refinitiv consensus
    ** DV shares have gained 6.5% since qtrly report and are up
26% YTD through Fri close
    ** Co IPOd in 2021 at $27

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))