TBLA - Outbrain expects Seth Klarman-backed IPO to value adtech giant at about $1.4B

Noam Galai/Getty Images Entertainment Outbrain (OB) released details Wednesday for its upcoming IPO that could value the adtech firm at up to $1.4B and will likely include backing from billionaire Seth Klarman’s Baupost Group. Outbrain wrote in a revised S-1 filing with the U.S. Securities and Exchange Commission that it plans to offer 8M shares that the company expects to price at $24 to $26 apiece. Outbrain has also granted underwriters the option to buy an extra 1.2M shares for overallotments. The company added that investment vehicles managed by Klarman’s hedge fund The Baupost Group has made a nonbinding expression of interest in buying 9.9% of the IPO stock. Plans call for the stock to trade on the Nasdaq under the ticker symbol “OB.” Outbrain wrote in its S-1 that it expects to have some 53.4M shares outstanding after the initial public offering. That will value the company at about

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Outbrain expects Seth Klarman-backed IPO to value adtech giant at about $1.4B