Integral Ad Science falls as co's biggest shareholder looks to dilute stake

Integral Ad Science Holding

05/12/2023 15:04

**Shares of digital ad verification firm Integral Ad Science
 IAS.O  fall 7.7% to $13.81 after co announces secondary
offering of common stock 
    ** Co announces Vista Equity Partners, its biggest
shareholder, will offer 11 mln shares of IAS to the public at
$14/shr; offering expected to close on Dec 7
    **IAS will not be selling any shares of common stock in this
offering and will not receive any proceeds from the sale 
    ** Vista Partners intends to grant an additional sale of
1.65 mln shares of IAS to the underwriters as a 30-day purchase
option 
    ** This is the second time Vista is diluting its stake in
IAS; it previously sold 10 mln shares to the public at $15/shr
in May this year
    ** Vista had a 49.2% stake in IAS at the end of Sept.- LSEG
data
    ** 12 of 15 brokerages rate the stock "buy" or higher, three
"hold"; their median PT is $20
    ** Upto Monday's close, stock up 70.3% YTD 
    
  

 (Reporting by Pranav Kashyap in Bengaluru)