PubMatic, which provides a platform that automates digital ad sales for online publishers, raised $118 million by offering 5.9 million shares (45% primary) at $20, above the range of $16 to $18. At pricing, the company raised 18% more in proceeds than anticipated to command a fully diluted market value of $1.1 billion.
PubMatic plans to list on the Nasdaq under the symbol PUBM. Jefferies and RBC Capital Markets acted as lead managers on the deal.
