Tremor International, which provides a platform that automates digital ad transactions for advertisers and publishers, announced terms for its IPO on Monday.
The Tel Aviv, Israel-based company plans to raise $150 million by offering 6.8 million ADSs at $22.17 per share, the as-converted June 11th close of its shares on the London AIM market (TRMR). At the proposed deal size, Tremor International would command a fully diluted market value of $1.7 billion.
Tremor International states that it enables advertisers to reach relevant audiences and publishers to maximize yield on their digital advertising inventory. The company offers an end-to-end platform with three core offerings: a demand-side platform (DSP) for advertisers, a supply-side platform (SSP) for publishers, and an integrated data management platform (DMP) for both. The company has an omni-channel platform, but specializes in video format ads on all devices and Connected TVs. Tremor had 900 active customers and 1,450 active publishers as of March 31, 2021.
Tremor International was founded in 2007 and booked $244 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol TRMR. RBC Capital Markets, Stifel, JMP Securities, Needham & Co., and Raymond James are the joint bookrunners on the deal. It is expected to price during the week of June 14, 2021.
