DV Stock IPO: 7 Things to Know as DoubleVerify Starts Trading

Today’s a big day for investors in DoubleVerify (NYSE:DV), as the stock has surged 35% on its impressive debut. The DV stock IPO has been met with a lot of optimism, as investors look to invest in growth sectors such as digital media analytics and engagement.

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Private equity firm Providence Equity Partners is a big believer in DoubleVerify’s platform. Indeed, the company has some strong backers, and today’s interest from investors paints a pretty bullish picture for this company.

DoubleVerify provides software solutions to help its customers optimize their digital advertising. Reportedly, hundreds of Fortune 500 firms are DoubleVerify clients. This is a company that is increasingly viewed by analysts as a top-tier software company, with relatively stable cash flows. Today’s price action suggests the market agrees.

Here are a few things investors might want to know about this IPO.

A Surge in Investor Interest Drives Positive Start for DV Stock IPO

  • DoubleVerify offered 8.6 million shares at $27 per share today.
  • This offering was at the top end of the $24-$27 range previously set.
  • That said, investor demand appears to be higher than the company calculated for this IPO. Shares are currently trading at the $36.50 level at the time of writing.
  • Additionally, underwriters have the option to purchase up to an additional 1.4 million shares from DoubleVerify and an additional 650,000 shares from Providence. Such a purchase would bring the total shares issued to more than 10 million, if the over-allotment option is exercised.
  • Accordingly, DoubleVerify expects to raise approximately $340 million from the deal.
  • Investment banks Goldman Sachs, JPMorgan Chase, Barclays and RBC Capital Markets led the deal.
  • DoubleVerify’s market capitalization of more than $5 billion at the time of writing positions this company as a key player in the AdTech space.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/04/dv-stock-ipo-7-things-to-know-as-doubleverify-starts-trading/.

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