Red Violet falls after beginning share offering

Red Violet

05/08/2026 21:39

** Analytics and information solutions provider Red Violet's RDVT.O shares down 6.4% to $63.90 in extended trading as it seeks equity
** Boca Raton, Florida-based firm commences stock offering without disclosing deal size
** Co intends to use net offering proceeds for working capital and general corp purposes, including potential acquisitions
** Raymond James and Needham joint bookrunners
** Co estimates it generated Q2 rev of $26.71 mln and adj EBITDA of $11.22 mln, per an SEC filing
** RDVT ended down 2.1% at $68.28 on Weds. Stock has risen 57% over the past three months and hit record intraday high of $71.19 on Mon
** With ~14.1 mln shares outstanding, co has about $965 mln market cap

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