Grid Dynamics Holdings (GDYN) said late Tuesday that it has priced an underwritten public offering of 5.8 million of its common shares at $17.25 per share, compared with the share's closing price of $19.12.
The company said the offering is slated to be completed on Thursday.
Grid said it expects net proceeds of $93.4 million, which will be used for working capital, capital expenditures, and other general corporate purposes such as acquisitions.
Grid Dynamics said it has granted the underwriters a 30-day option to buy up to 862,500 additional shares of its common stock.
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