Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) (Grid Dynamics), a leader in enterprise-level digital transformation, today announced the launch of a proposed underwritten follow-on public offering of 10,100,262 shares of its common stock, which will include 4,000,000 shares to be offered by Grid Dynamics and 6,100,262 shares to be offered by certain selling stockholders. Grid Dynamics will not receive any proceeds from the sale of the shares by the selling stockholders. In addition, Grid Dynamics and certain selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 1,515,039 shares of common stock.

J.P. Morgan Securities, LLC, William Blair & Company, L.L.C. and Cowen and Company, LLC are acting as joint book-running managers for the offering.