Innodata announces $300 million at-the-market equity offering agreement

Innodata Inc. (NASDAQ:INOD) announced Thursday it has entered into an equity distribution agreement with Goldman Sachs & Co. LLC, Craig-Hallum Capital Group LLC, Wells Fargo Securities, LLC, Maxim Group LLC, and Wedbush Securities Inc. Under the agreement, the company may offer and sell shares of its common stock for an aggregate amount of up to $300 million from time to time through the named sales agents.

According to the press release statement filed with the Securities and Exchange Commission, the shares may be sold in transactions considered “at the market offerings” as defined by Rule 415 under the Securities Act of 1933 or by other methods permitted by law. The sales agents will act as principal and/or sales agent, and will use commercially reasonable efforts to sell the shares based on Innodata’s instructions, including any price, time, or size limits specified by the company.

The company will pay the sales agents a commission of up to 2.0% of the gross proceeds from each sale under the agreement. Innodata is not obligated to sell any shares and may suspend or terminate the offering at any time.

The shares will be issued and sold pursuant to a shelf registration statement on Form S-3, which was filed and became effective Thursday. Offerings will be made only by means of a prospectus supplement dated the same day as the agreement.

The legal opinion regarding the shares being offered was provided by Morgan, Lewis & Bockius LLP and was included as an exhibit in the SEC filing.

This information is based on a press release statement included in Innodata’s Form 8-K filing with the SEC.

In other recent news, Innodata Inc. reported impressive financial results for the first quarter of 2026. The company achieved earnings per share of $0.42, surpassing the forecasted $0.23. Additionally, Innodata’s revenue reached $90.09 million, exceeding the expected $72.1 million. In another development, Jayant Chauhan has been appointed as Executive Vice President and Chief Financial Officer, effective July 6, 2026. Chauhan brings over two decades of experience in finance, having previously held senior roles at Mphasis and OYO. Marissa Espineli, who served as Interim CFO, will now transition to Chief Accounting Officer and report to Chauhan. Innodata has also reaffirmed its revenue growth outlook for 2026. These recent developments highlight the company’s strategic moves and financial performance.