Integral Ad Science Holding, which provides a digital advertising measurement and verification platform, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $240 million by offering 15 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Integral Ad Science Holding would command a fully diluted market value of $2.5 billion and an enterprise value of $2.6 billion.
Integral Ad Science's technology provides metrics designed to verify that digital ads are served to a real person, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. The company is integrated with major advertising platforms including Amazon, Facebook, Google, Instagram, LinkedIn, The Trade Desk and Twitter across all devices, including desktop, mobile, connected TV, and video. Integral Ad Science claims to use artificial intelligence and machine learning to process over 100 billion daily web transactions to provide real-time insights and analytics.
Close competitor DoubleVerify (DV) IPO'd in April; the company rose 33% on its first day last closed 43% above issue.
Integral Ad Science Holding was founded in 2009 and booked $254 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol IAS. Morgan Stanley, Jefferies, Barclays, Evercore ISI, Wells Fargo Securities, BMO Capital Markets, Oppenheimer & Co., Raymond James, and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 28, 2021.
