PubMatic, Inc., a digital advertising technology company, has announced the pricing of its initial public offering of 5,900,000 shares of Class A common stock at a price to the public of US$20 per share. PubMatic is offering 2,655,000 shares and certain selling stockholders are offering 3,245,000 shares. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 885,000 additional shares of common stock at the initial public offering price, less underwriting discounts. PubMatic will not receive any proceeds from any sale of shares by the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Market on December 9, 2020, under the ticker symbol “PUBM.” The offering is expected to close on December 11, 2020, subject to customary closing conditions.
Latham & Watkins LLP represented the underwriters in the offering with a corporate deal team led by Bay Area partner Tad Freese, with Bay Area associates Michelle Lu, Nimrah Khan, and Taimi Jacobson. Advice was also provided on tax matters by Bay Area partner Grace Lee, with Washington, D.C. associate Amy Feinberg; on benefits and compensation matters by Bay Area partner Ashley Wagner; on FCPA matters by Washington, D.C. counsel Timothy McCarten; and on data privacy and security matters by London partner Gail Crawford, with London associate Liz Longster.