Viant Technology drops after unveiling secondary offering
DSP•Shares fall after secondary offering announcement
Advertising tech firm Viant Technology's DSP.O shares were down 20.2% at $9.87 post-market after a secondary offering was unveiled.
Major holder Capital V LLC, tied to Viant founders Tim, Chris and Russ Vanderhook, is set to offload 8.5 million shares, according to the prospectus filing.
Evercore, Wells Fargo, RBC and Craig-Hallum are bookrunners.
DSP has about 66.5 million shares outstanding for a market cap of about $820 million.
The stock closed down 1.8% at $12.37 on Wednesday. Shares have risen about 13% over the past three months, putting them up about 3% year to date.
All 11 analysts covering the stock are bullish; the median price target is $19, per LSEG.
