Grid Dynamics Holdings, Inc. announced the pricing of an underwritten public offering of 5,750,000 shares of its common stock at $17.25 per share. The offering is expected to generate net proceeds of approximately $93.4 million after expenses.
The company intends to use these proceeds for working capital, capital expenditures, and other general corporate purposes, including potential acquisitions. The closing of the offering is anticipated to occur on November 14, 2024, subject to customary closing conditions.
Additionally, Grid Dynamics granted the underwriters a 30-day option to purchase up to 862,500 additional shares of common stock. This financing event provides substantial capital to support the company's ongoing expansion and strategic objectives.
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