DoubleVerify slips as top holder Providence sells shares

DoubleVerify Holdings

06/03/2023 12:19

** DoubleVerify Holdings Inc's  DV.N  shares down 2.9% at
$26.90 on very light premarket volume after digital media
analytics firm launches secondary offering
    ** Providence Equity Partners selling 12.5 mln shares, DV
says
    ** #1 holder Providence owns ~41% stake in DV, or roughly
67.5 mln shares, per Refinitiv data
    ** JP Morgan and Barclays acting as underwriters for
offering
    ** 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))