Amid a wave of speculation that ad tech companies were ready to seize their opportunities in the public markets, PubMatic confirmed that they had filed an S-1 with the Securities and Exchange Commission in preparation for an initial public offering.
"PubMatic intends to list its Class A common shares on the Nasdaq Global Market under the ticker symbol" PUBM, "said the statement confirming the move.
Jefferies LLC and RBC Capital Markets, LLC will serve as joint book-running managers for the proposed offering. JMP Securities LLC, KeyBanc Capital Markets, Oppenheimer & Co. Inc. and Raymond James & Associates, Inc. are also acting as co-managers for the proposed offering.
With the IPO, PubMatic is part of The Trade Desk, Magnite, Criteo and LiveRamp and becomes one of the few ad tech companies to trade in the public markets.
Last month, it was reported that content verification firm DoubleVerify and mobile phone specialist AppLovin were considering IPOs. Industry watchers have suggested that DoubleVerify could choose to go public through a SPAC (or what is commonly known as a "reverse IPO"), as these fundraising avenues have proven popular in 2020.