Endava Announces Pricing of Initial Public Offering

LONDON--(BUSINESS WIRE)-- Endava plc (“Endava”), a leading next-generation technology services provider that helps accelerate disruption by delivering rapid evolution to enterprises, today announced the pricing of its initial public offering of 6,340,000 American Depositary Shares (“ADSs”), each representing one Class A ordinary share of Endava, at a price to the public of $20.00 per share, of which 3,200,000 ADSs are being offered by Endava and 3,140,000 ADSs are being offered by existing shareholders of Endava. The ADSs are expected to begin trading on The New York Stock Exchange on July 27, 2018 under the ticker symbol “DAVA”. The offering is expected to close on July 31, 2018, subject to customary closing conditions. In addition, Endava and certain existing shareholders of Endava have granted the underwriters a 30-day option to purchase up to an additional 951,000 ADSs at the initial public offering price less underwriting discounts and commissions, of which 28,995 ADSs are being offered by Endava and 922,005 ADSs are being offered by existing shareholders of Endava.

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Cowen and Company, LLC and William Blair & Company, L.L.C. are acting as co-managers for the offering.

The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Citigroup Global Markets Inc., Attn: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, or by email at [email protected]; or Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attn: Prospectus Department, or by telephone at (800) 503-4611, or by email at [email protected]. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in each relevant EU member state) and will not have been reviewed by any competent authority in any EU member state.

A registration statement related to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission on July 26, 2018. Copies of the registration statement can be accessed by visiting the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Endava

Endava is a leading next-generation technology services provider that helps accelerate disruption by delivering rapid evolution to enterprises. Engaging with an approach called Ideation to Production, and delivering using Distributed Enterprise Agile at scale, Endava collaborates with its clients, seamlessly integrating with their teams, catalysing ideation and delivering robust solutions. Endava helps its clients become digital experience-driven businesses by assisting them in their journey from idea generation to development and deployment of products, platforms and solutions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180726006063/en/

Investor Relations:
Laurence Madsen, 646-771-3282
[email protected]

Source: Endava plc

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