Business
Grid Dynamics Goes Public through Business Combination with ChaSerg Technology Acquisition Corp.
Combined Company Renamed Grid Dynamics Holdings, Inc. and will Trade on the Nasdaq Stock Market under Ticker GDYN SAN RAMON, Calif. & NEW YORK--(BUSINESS
About this update from Grid Dynamics Holdings, Inc.
[{"type":"text","content":"\nCombined Company Renamed Grid Dynamics Holdings, Inc. and will Trade on the Nasdaq Stock Market under Ticker GDYN\n\n SAN RAMON, Calif. & NEW YORK--(BUSINESS WIRE)--\nGrid Dynamics Holdings, Inc. (“Grid Dynamics”), a leader in enterprise-level digital transformation, together with ChaSerg Technology Acquisition Corp. (Nasdaq: CTAC) (“ChaSerg”), a special purpose acquisition company, today announced that they have completed their previously announced business combination. The business combination was approved at a special meeting of stockholders of ChaSerg on March 4, 2020, and closed on March 5, 2020. Upon completion of the business combination, Grid Dynamics Holdings, Inc. common stock and warrants are expected to begin trading on the Nasdaq Stock Market under the ticker symbol “GDYN” and “GDYNW,” respectively, commencing March 6, 2020. At the time of closing, Grid Dynamics had a market capitalization of approximately $660 million.\n\n\nGrid Dynamics’ management team, led by Leonard Livschitz, Chief Executive Officer, and Anil Doradla, Chief Financial Officer, will continue to lead the combined company. Lloyd Carney, Chief Executive Officer of ChaSerg will serve as Chairman of the combined company’s board of directors.\n\n\nMr. Leonard Livschitz stated, “This is a tremendous milestone for Grid Dynamics and a testament to the hard work and dedication of our global team. We would especially like to thank ChaSerg for their partnership and many contributions to our success. We are excited to move forward together with our new board of directors and investors as we continue to execute on Grid Dynamics’ growth plan as a public company. With Grid Dynamics’ strong foundation in digital transformation and vision for growth, we see significant opportunities for long-term value creation.”\n\n\nMr. Lloyd Carney stated, “We are thrilled to complete the business combination with Grid Dynamics and excited to work with Leonard and the entire Grid Dynamics team, as they continue to build on their success as a public company.”\n\n\nCantor Fitzgerald and William Blair acted as capital markets advisors to ChaSerg. Latham & Watkins LLP and Ellenoff Grossman and Schole LLP served as legal counsels to ChaSerg. Covington Associates LLC acted as financial advisor to Grid Dynamics. Wilson Sonsini Goodrich & Rosati, P.C. acted as legal counsel to Grid ...