Trade Desk Inc (NASDAQ:TTD) has launched an offer of five million Class A shares. With the offer, underwriters will be granted by stockholders who are selling up to a month within which to acquire an extra 750,000 Class A shares. The offering will however not net The Trade Desk anything.
The book-running managers for the offering will be RBC Capital Markets, Jefferies, and Citigroup. Co-managers, on the other hand, will be Raymond James and Needham & Company.
Registration statements filing application
A prospectus will be used to make the offering and can be obtained from any of the book-running managers. The book-running managers can be contacted by email or by a physical visit. Though it is not yet effective, the Securities and Exchange Commission has already received a filing application for the registration statement. This means that the buying and selling of the offers will not be accepted until the statement is deemed to be effective.
This comes less than two weeks after the Trade Desk released its financial results for the fourth quarter. In what was hailed as a good year by the chief executive officer, Jeff Green, revenues for the company grew by 78% to reach $200 million. Gross spend for the quarter was $1 billion. In 2017, the Ventura, California-based firm targets to increase revenues to $270 million and a gross spend of $1.45 billion.
Three continents
As a technology firm that focuses on empowering ad buyers, operations of The Trade Desk are spread across three continents, namely Asia, Europe and North America. Through its service, advert buyers can optimize, manage, and create ad campaigns that are more data-driven and more expressive. This can be done in various formats such as audio, video and display banners. The ads can appear in many mediums or devices and this includes connected television, mobile devices, and computers.
By being highly data-driven, The Trade Desk enables its clients to make the best advertising decisions and also get the maximum value by getting the maximum reach.
On Tuesday, shares of Trade Desk Inc jumped by 14.61% to close the day at $42.21.
