Filing Analysis
Grid Dynamics Holdings, Inc. held its 2024 Annual Meeting of Stockholders on December 23, 2024. The meeting resulted in the election of three Class II directors and the ratification of Grant Thornton LLP as the company's independent auditor.
📋 Key Facts
- Annual Meeting held on December 23, 2024.
- Quorum reached with 70,662,912 shares (91.98% of voting power) represented at the meeting.
- Elected Lloyd Carney, Michael Southworth, and Yueou Wang to the Board of Directors for terms ending in 2027.
- Ratified Grant Thornton LLP as independent registered public accounting firm for FY 2024 with 70,541,443 votes in favor.
- Approved advisory compensation for named executive officers (Say-on-Pay) with 65,709,170 votes in favor.
Grid Dynamics Holdings, Inc. entered into an underwriting agreement to sell 5,750,000 shares of common stock at $17.25 per share. The underwriters fully exercised their over-allotment option for an additional 862,500 shares, resulting in total net proceeds of approximately $108.1 million.
🚩 Red Flags
- Potential dilution for existing shareholders due to the issuance of over 6.6 million new shares.
📋 Key Facts
- Offering size: 5,750,000 shares at $17.25 per share.
- Underwriters exercised full option for an additional 862,500 shares.
- Estimated net proceeds: approximately $108.1 million (after underwriting discounts/commissions).
- Use of proceeds: working capital, capital expenditures, and general corporate purposes including potential acquisitions.
- Registration method: Effective shelf registration statement on Form S-3.
- Expected closing date: November 14, 2024.
Grid Dynamics Holdings, Inc. filed an 8-K to announce its quarterly results for the period ended September 30, 2024. The filing serves as a formal announcement of the company's recent financial performance via a press release.
📋 Key Facts
- The report date is October 31, 2024.
- The filing pertains to results for the quarter ended September 30, 2024.
- A press release containing the earnings details was issued as Exhibit 99.1.
Grid Dynamics Holdings, Inc. announced a compensation adjustment for its Chief Financial Officer, Anil Doradla, effective October 1, 2024.
📋 Key Facts
- Effective date of salary increase: October 1, 2024.
- CFO base salary increased from $310,000 to $350,000 per annum.
- Annual target performance bonus opportunity increased from $165,000 to $175,000.
Grid Dynamics Holdings, Inc. filed an 8-K to announce its quarterly results for the period ending June 30, 2024.
📋 Key Facts
- The filing is a standard announcement of quarterly earnings (Results of Operations and Financial Condition).
- Reporting date: August 1, 2024.
- Period covered: Quarter ended June 30, 2024.
- Exhibit 99.1 contains the full press release with detailed financial data.
Grid Dynamics Holdings, Inc. filed an 8-K to announce its financial results for the quarter ended March 31, 2024. The filing serves as a vehicle to furnish the quarterly earnings press release.
📋 Key Facts
- Report date: May 2, 2024
- Reporting period: Quarter ended March 31, 2024
- The filing includes Exhibit 99.1 containing the earnings press release
- Information is furnished rather than filed for purposes of Section 18 liability
Grid Dynamics Holdings, Inc. filed an 8-K to announce its financial results for the quarter and full year ended December 31, 2023.
📋 Key Facts
- Report date: February 22, 2024
- Reporting period: Quarter and Full Year ended December 31, 2023
- The filing includes a press release (Exhibit 99.1) detailing results of operations and financial condition.