Grid Dynamics Holdings, Inc. (GDYN) Announces $100M Proposed Public Offering

Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) ("Grid Dynamics"), a leader in enterprise-level digital transformation, today announced the launch of a proposed underwritten public offering of $100,000,000 of its common stock. All of the shares to be sold in the offering are to be sold by Grid Dynamics. In addition, Grid Dynamics expects to grant the underwriters a 30-day option to purchase up to $15,000,000 of additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

J.P. Morgan Securities LLC and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. Needham & Company, LLC and Cantor Fitzgerald & Co. are acting as co-managers for the offering.

The offering of the shares will be made only by means of a preliminary prospectus supplement and related base prospectus. Copies of the preliminary prospectus supplement, final prospectus supplement (when available) and related base prospectus may be obtained, when available, from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at [email protected] or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email at [email protected].

The shares are being offered by Grid Dynamics pursuant to a shelf registration statement on Form S-3 (File No. 333-255732), which became effective on May 13, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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