Outbrain Announces Closing of Initial Public Offering
Outbrain announced the closing of its initial public offering (IPO) of 8 million shares at a public price of $20.00 each, raising approximately $160 million in gross proceeds.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Outbrain announced the closing of its initial public offering (IPO) of 8 million shares at a public price of $20.00 each, raising approximately $160 million in gross proceeds. The offering saw all shares sold by Outbrain, with underwriters given a 30-day option for an additional 1.2 million shares. The IPO registration became effective on July 22, 2021, with Citigroup, Jefferies, Barclays, and Evercore ISI serving as joint bookrunners. Outbrain's common stock trades under the symbol OB on the Nasdaq Global Select Market.
Positive
- Raised approximately $160 million in gross proceeds from IPO.
- Underwriters received an option for an additional 1.2 million shares, which may indicate strong demand.
Negative
- None.
Details
News Market Reaction – OB
The recorded move for OB in the trading session of this news was +0.50%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, July 27, 2021 (GLOBE NEWSWIRE) -- Outbrain Inc. (“Outbrain”), a leading recommendation platform for the open web, announced today the closing of its initial public offering of 8,000,000 shares of its common stock, at a price to the public of
Citigroup, Jefferies, Barclays, and Evercore ISI acted as joint bookrunners for the offering. JMP Securities, Needham & Company and LUMA Securities acted as co-managers.
A registration statement relating to the offering was declared effective by the Securities and Exchange Commission on July 22, 2021. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from any of the following sources:
- Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by phone at (800) 831-9146 or by email at prospectus@citi.com;
- Jefferies, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com;
- Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (888) 603-5847 or by email at barclaysprospectus@broadridge.com;
- Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by e-mail at ecm.prospectus@evercore.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Outbrain
Outbrain is a leading recommendation platform for the open web. Our technology enables one-third of the world's online consumers to discover new things through recommendation feeds on their favorite media and connects advertisers to these audiences to grow their business. Outbrain partners with publishers and marketers in more than 55 countries worldwide and is headquartered in New York City, with offices in 18 cities worldwide.
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