For original article, click here.
- Grid Dynamics (NASDAQ:GDYN) priced an underwritten public offering of 5.75M shares at a price to the public of $17.25 per share.
- The expected net proceeds of the offering after expenses are ~$93.4M.
- Underwriters have a 30-day option to purchase up to 862,500 additional shares of its common stock.
- Proceeds will be used for working capital, capital expenditures and other general corporate purposes including acquisitions.
- Closing of the offering is expected to occur on November 14, 2024.
- The stock price dropped 7.4% on Wednesday during pre-market hours of trading.
