DoubleVerify drops as top investor cuts stake in stock offering
11/11/2022 17:11
** DoubleVerify Holdings Inc's DV.N shares down 7.1% at
$26.02 after secondary offering prices
** Digital media analytics firm late Thurs announced 10 mln
shares sold by Providence Equity Partners at $26.40, 5.7%
discount to last close urn:newsml:reuters.com:*:nBw6b41qya
** Top holder Providence owned 50% stake in DV, or ~82.5 mln
shares, prior to offering, per Refinitiv data
** Goldman Sachs sole bookrunner for offering
** Late Tues, DV posted Q3 rev, EPS beat and boosted FY22
rev guidance to $450-$454 mln vs prior forecast of $448-$450
mln, 36% yr/yr increase at midpoint urn:newsml:reuters.com:*:nBw9k541la
** With move on the session, shares down ~22% YTD
** DV went public in Apr 2021 IPO priced at $27
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))