Viant Technology drops after unveiling secondary offering

By Reuters News

** Advertising tech firm Viant Technology's DSP.O shares down 20.2% at $9.87 post-market after secondary offering unveiled

** Major holder Capital V LLC, tied to Viant founders Tim, Chris and Russ Vanderhook, to offload 8.5 mln shares, per the prospectus filing

** Evercore, Wells Fargo, RBC and Craig-Hallum are bookrunners

** DSP has ~66.5 mln shares outstanding for about $820 mln market cap

** Stock closed down 1.8% at $12.37 on Weds. Shares have risen ~13% over the past three months, putting them up ~3% YTD

** All 11 analysts covering the stock are bullish; median PT $19, per LSEG

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