Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Public Offering Announcement

Grid Dynamics Holdings, Inc. (“Grid Dynamics”), a leader in technology consulting and digital engagement services, has announced the pricing of an underwritten public offering of 5,750,000 shares of its common stock at $17.25 per share.

Proceeds

The expected net proceeds from the offering, after expenses, are approximately $93.4 million, which will be used for:
– Working capital
– Capital expenditures
– Other general corporate purposes (including acquisitions)

Closing Details

The closing of the offering is expected to occur on November 14, 2024, pending customary closing conditions. Additionally, Grid Dynamics has granted underwriters a 30-day option to purchase up to 862,500 additional shares.

Management of Offering

• Joint Book-Running Managers:

  • J.P. Morgan Securities LLC
  • William Blair & Company, L.L.C.
  • TD Cowen

• Co-Manager:

  • Needham & Company

SEC Registration

The shares are being offered pursuant to an automatic shelf registration statement on Form S-3 (File No. 333-283149), effective upon filing. The offering will be made only by means of a prospectus supplement and related base prospectus, which may be obtained from J.P. Morgan Securities LLC or William Blair & Company.

Important Disclaimer

This press release does not constitute an offer to sell or a solicitation of an offer to buy. There will be no sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.