Tremor International, which provides a platform that automates digital ad transactions for advertisers and publishers, raised $129 million by offering 6.8 million ADSs at $19, below the as-converted last close of its shares on the London AIM market ($21.28).
Tremor International states that it enables advertisers to reach relevant audiences and publishers to maximize yield on their digital advertising inventory. The company offers an end-to-end platform with three core offerings: a demand-side platform (DSP) for advertisers, a supply-side platform (SSP) for publishers, and an integrated data management platform (DMP) for both. The company has an omni-channel platform, but specializes in video format ads on all devices and Connected TVs. Tremor had 900 active customers and 1,450 active publishers as of March 31, 2021.
Tremor International plans to list on the Nasdaq under the symbol TRMR. RBC Capital Markets, Stifel, JMP Securities, Needham & Co., and Raymond James acted as joint bookrunners on the deal.
