06:21 AM EST, 11/13/2024 (MT Newswires) -- 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 ( GDYN ) said it has granted the underwriters a 30-day option to buy up to 862,500 additional shares of its common stock.