Ahead of today’s market opening, the trajectory of Intapp, Inc. (NASDAQ: INTA) shares is notably upward. As of the latest check during the pre-market session, INTA stock has surged by 8.82% to $37.99. This uptick follows a 1.19% increase in the value of Intapp stock during the preceding session, settling at $34.91. Despite the absence of significant news, the bullish trend in INTA stock suggests recent developments may have spurred this surge.
Intapp (INTA) recently disclosed that specific entities associated with Great Hill Equity Partners IV, L.P. have expressed intentions to offer a total of 7,000,000 shares of the Company’s common stock in an underwritten public offering. Proceeds from the offering will accrue solely to the Selling Stockholder, as the Company itself will not be vending any shares nor receiving any proceeds from the sale.
Additionally, the underwriter retains a 30-day option to procure up to an additional 1,050,000 shares from the Selling Stockholder at the public offering price, after accounting for underwriting discounts and commissions. J.P. Morgan serves as the underwriter and exclusive book-running manager for this offering.
In a strategic maneuver, Intapp has recently inked an agreement to acquire delphai, an AI software firm based in Berlin renowned for its expertise in applied AI for firmographic data automation, structuring, and intelligence. The transaction remains contingent upon customary closing conditions and is anticipated to be finalized within the ensuing 60 days.
Delphai employs AI methodologies across an array of public data sources including tens of millions of company websites, news outlets, and financial statements, thereby generating structured, attributable firmographic data. This technology facilitates the streamlined analysis of firmographic data and enables firms to amalgamate their internal data with external sources, thereby bolstering their data foundations.
Intapp intends to integrate delphai’s AI capabilities into its intelligent cloud platform, thereby expediting its AI development roadmap. The forthcoming integration of Intapp and delphai’s technologies promises clients access to advanced AI features and insights within Intapp’s solutions. This advancement will enable professionals worldwide to harness a diverse array of native AI capabilities and optimize data utilization, thereby enabling them to prioritize value creation.
