Why Grid Dynamics Shares Are Falling

Grid Dynamics Holdings Inc GDYN shares are trading lower by 8.59% to $18.10 Thursday morning after the company priced its common stock offering of about 5.71 million shares at $17.50 per share.

In addition, Grid Dynamics granted the underwriters a 30-day option to purchase up to 857,142 additional shares of its common stock. The shares are being offered by Grid Dynamics pursuant to a shelf registration statement which became effective on May 13th, 2021.

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According to data from Benzinga Pro, Grid Dynamics has a 52-week high of $42.81 and a 52-week low of $9.08.