# EDGAR Filing Document

**Accession Number:** 0001842718
**File Stem:** 0001193125-25-214050
**Filing Date:** 2025-9
**Character Count:** 25316
**Document Hash:** 8348dd4fc3e81b0705a81f352537cdc6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-214050.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001193125-25-214050

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250924

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INTEGRAL AD SCIENCE HOLDING CORP.
- **CENTRAL INDEX KEY:** 0001842718
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 830731995
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40557
- **FILM NUMBER:** 251335221

**BUSINESS ADDRESS:**
- **STREET 1:** 12 EAST 49TH STREET
- **STREET 2:** 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** (646) 278-4871

**MAIL ADDRESS:**
- **STREET 1:** 12 EAST 49TH STREET
- **STREET 2:** 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTEGRAL AD SCIENCE HOLDING LLC
- **DATE OF NAME CHANGE:** 20210301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KAVACHA TOPCO, LLC
- **DATE OF NAME CHANGE:** 20210127

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 OR 15(d)

#### of The Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): September 24, 2025

## INTEGRAL AD SCIENCE HOLDING CORP.

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-40557** | **83-0731995** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer<br>Identification No.)** |

---

---

| | |
|:---|:---|
| **12 E 49th Street, 20th Floor**<br> **New York, NY** | **10017** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

#### Registrant's telephone number, including area code: 646 278-4871

#### Not Applicable

#### (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common stock, par value $0.001 | IAS | The Nasdaq Stock Market LLC<br>(Nasdaq Global Select Market) |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 8.01.** | **Other Events.**  |

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On September 24, 2025, Integral Ad Science Holding Corp., a Delaware corporation (the "<u>Company</u>"), entered into an Agreement and Plan of Merger (the "<u>Merger Agreement</u>") with Igloo Group Parent, Inc., a Delaware corporation ("<u>Parent</u>"), and Igloo Group Acquisition Company, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("<u>Merger Sub</u>"). Parent and Merger Sub are affiliates of investment funds managed by Novacap Management Inc. ("<u>Novacap</u>"). Pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company (the "<u>Merger</u>"), with the Company surviving as a wholly owned subsidiary of Parent.

On September 24, 2025, the Company and Parent issued a joint press release announcing the execution of the Merger Agreement. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein. The information required to be reported on a Current Report on Form 8-K with respect to the Merger Agreement will be filed by the Company in a separate Current Report on Form 8-K.

#### Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K, and the Company's other filings, press releases and statements made in connection herewith may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, including statements regarding the benefits of the proposed acquisition of the Company and the associated integration plans, expected synergies and capital expenditure commitments, anticipated future operating performance and results of the Company, the expected management and governance of the Company following the acquisition, expected timing of the closing of the Merger and the other transactions contemplated by the Merger Agreement, and any other statements regarding the Company's future expectations, beliefs, plans, objectives, financial condition, assumptions or future events or performance that are not historical facts. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "aim," "anticipate," "believe," "can," "could," "seek," "should," "feel," "expect," "will," "would," "plan," "project," "intend," "estimate," "continue," "may," or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, (i) the risk that the Merger may not be completed in a timely manner or at all, which may adversely affect the Company's business and the price of the Company's common stock, (ii) the timing to consummate the Merger, or the occurrence of any event, change, or other circumstances that could give rise to the termination of the Merger Agreement, including circumstances requiring a party to pay the other party a termination fee pursuant to the Merger Agreement, (iii) the failure to satisfy the conditions to the consummation of the Merger, and the other transactions contemplated thereby, (iv) the risk that a governmental or regulatory approval that may be required for the Merger is not obtained or is obtained subject to conditions that are not anticipated, (v) the effect of the announcement or pendency of the Merger on the Company's business relationships, operating results and business generally, (vi) certain restrictions during the pendency of the Merger that may impact the Company's ability to pursue certain business opportunities or strategic transactions, (vii) risks that the Merger disrupts current plans and operations, (viii) risks related to diverting management's attention from the Company's ongoing business operations, (ix) the outcome of any legal proceedings that may be instituted against the parties to the Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto, (x) the Company's ability to retain, hire and integrate skilled personnel, including the Company's senior management team, and maintain relationships with key business partners and customers, and others with whom it does business, in light of the Merger, (xi) unexpected costs, charges or expenses resulting from the Merger, (xii) the impact of adverse general and industry-specific economic and market conditions, (xiii) risks related to the Company's financial position and results of operations, (xiv) risks that the benefits of the Merger are not realized when and as expected, (xv) the impact of inflation and global conflicts, including ongoing trade disputes between the United States and other countries, and (xvi) other factors described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, the Company's subsequent Quarterly Reports on Form 10-Q, and in other reports and filings made or to be made by the Company with the U.S. Securities and Exchange Commission (the "<u>SEC</u>"). The Company cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, the

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Company cannot assure you that the Company will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect the Company or the Company's operations in the way the Company expects. The forward-looking statements included in this Current Report on Form 8-K are made only as of the date hereof. Except as required by applicable law or regulation, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

#### Additional Information and Where to Find It
This Current Report on Form 8-K is being made in respect of the proposed transaction involving the Company and Novacap. The Company will prepare an information statement for its stockholders, containing the information with respect to the proposed merger specified in Schedule 14C promulgated under the Exchange Act, and describing the proposed transaction. When completed, a definitive information statement will be mailed to the Company's stockholders. This press release is not a substitute for the information statement, or any other document, that the Company may file with the SEC or send to its stockholders in connection with the proposed transaction.

THE COMPANY'S STOCKHOLDERS ARE URGED TO CAREFULLY READ THE INFORMATION STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

The Company's stockholders may obtain free copies of the documents the Company files with the SEC from the SEC's website at www.sec.gov or through the Investor Relations page of the Company's website at https://investors.integralads.com or by contacting the Company's Investor Relations by e-mail at ir@integralads.com.

#### No Offer or Solicitation
No person has commenced soliciting proxies in connection with the proposed transaction referenced in this Current Report on Form 8-K, and this Current Report on Form 8-K is neither an offer to purchase nor a solicitation of an offer to sell securities.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.**  |

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(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit<br>No.** | **Description of Exhibit** |
| 99.1 | [Press Release, dated September 24, 2025.](d938971dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | INTEGRAL AD SCIENCE HOLDING CORP. | INTEGRAL AD SCIENCE HOLDING CORP. |
| Date: September 24, 2025 |  |  |
|  | By: | /s/ Alpana Wegner |
|  | Name: | Alpana Wegner |
|  | Title: | Chief Financial Officer<br> (Principal Financial Officer) |

---

## Exhibit 99.1

**Exhibit 99.1** 

**IAS to be Acquired by Novacap for $1.9 Billion to Further Support Its Strategic Goals** 

*IAS Shareholders to Receive $10.30 Per Share in Cash* 

*Transaction Will Foster Future Growth of IAS's Leading* 

*Global Media Measurement and Optimization Platform* 

NEW YORK, Sept. 24, 2025 – Integral Ad Science (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced it entered into a definitive agreement to be acquired by Novacap, a leading North American private equity firm, in an all-cash transaction that values IAS at approximately $1.9 billion and positions IAS for further growth as it continues investing in AI-first technology.

Under the terms of the agreement, Novacap will acquire all of the outstanding shares of IAS for $10.30 per share in cash. This represents a premium of approximately 22% to IAS's closing share price on September 23, 2025, the last full trading day prior to the transaction announcement.

"Today's announcement is an exciting milestone for IAS. As a private company with the support of Novacap, we will have access to new resources to achieve our strategic goals and further build upon the differentiated value we bring our customers as we advance our mission to be the global benchmark for trust and transparency in digital media quality," said Lisa Utzschneider, CEO of IAS. "I'm proud of the strong momentum we've built for our company, the strength of our AI-powered measurement and optimization platform, and the outstanding work of our employees."

"We have long admired IAS as an innovator and leader in its industry, with a stellar leadership team, and robust AI-first platform for Fortune 500 brands and publishers," said Samuel Nasso, Partner at Novacap. "We look forward to partnering closely with IAS to accelerate its pace of innovation to deliver even more powerful advertising solutions for customers around the world."

"IAS has established itself as the global benchmark for trust and transparency in digital media quality," said Michael Fosnaugh, Senior Managing Director and Co-Head of Vista Equity Partners' Flagship Fund, and Chairman of IAS' Board of Directors. "Through our partnership, IAS expanded its AI-powered platform, deepened customer relationships and scaled into a true category leader. We're excited for Lisa and her team as they continue that journey with Novacap."

As part of the transaction, current shareholder Vista will conclude its investment upon close.

**Transaction Details** 

The transaction, which has been unanimously approved by the IAS Board of Directors, is expected to close before the end of 2025, subject to customary closing conditions, including receipt of required regulatory approvals.

IAS shareholders holding a majority of the outstanding shares of IAS common stock have approved the transaction by written consent. No other shareholder approval is required. Upon completion of the transaction, IAS will become a privately held company and IAS common stock will no longer be listed on any public market.

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Following the close of the transaction, IAS will continue to operate under the IAS name and brand.

The transaction is not subject to any financing condition.

**Advisors** 

Jefferies LLC is serving as the exclusive financial advisor to IAS, and Kirkland & Ellis LLP is serving as legal advisor.

Evercore is serving as financial advisor to Novacap, and Willkie Farr & Gallagher LLP is serving as legal advisor.

**About Integral Ad Science** 

Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry's most actionable data to drive superior results for the world's largest advertisers, publishers, and media platforms. IAS's software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust and transparency in digital media quality. For more information, visit <u>integralads.com</u>.

**About Novacap** 

Novacap is a leading North American private equity investor and one of Canada's most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $10 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution. For more information, please visit <u>www.novacapcorp.com</u>.

**About Vista Equity Partners** 

Vista is a global technology investor that specializes in enterprise software. Vista's private market strategies seek to deliver differentiated returns through a proprietary and systematic approach to value creation developed and refined over the course of 25 years and 600+ transactions. Today, Vista manages a diversified portfolio of software companies that provide mission-critical solutions to millions of customers around the world. As of March 31, 2025, Vista had more than $100 billion in assets under management. Further information is available at <u>vistaequitypartners.com</u>. Follow Vista on LinkedIn, <u>@Vista Equity Partners</u>, and on X, <u>@Vista_Equity</u>.

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**Forward-Looking Statements** 

This press release contains, and IAS's other filings, press releases and statements made in connection herewith may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, in each case, as amended, including statements regarding the benefits of the proposed acquisition of IAS and the associated integration plans, expected synergies and capital expenditure commitments, anticipated future operating performance and results of IAS, the expected management and governance of IAS following the acquisition, expected timing of the closing of the proposed transaction and other transactions contemplated by the merger agreement governing the proposed transaction (the "Merger Agreement"), and any other statements regarding IAS's future expectations, beliefs, plans, objectives, financial condition, assumptions or future events or performance that are not historical facts. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "aim," "anticipate," "believe," "can," "could," "seek," "should," "feel," "expect," "will," "would," "plan," "project," "intend," "estimate," "continue," "may," or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect IAS's business and the price of IAS's common stock, (ii) the timing to consummate the proposed transaction, or the occurrence of any event, change, or other circumstances that could give rise to the termination of the Merger Agreement, including circumstances requiring a party to pay the other party a termination fee pursuant to the Merger Agreement, (iii) the failure to satisfy the conditions to the consummation of the proposed transaction, and the other transactions contemplated thereby, (iv) the risk that a governmental or regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated, (v) the effect of the announcement or pendency of the proposed transaction on IAS's business relationships, operating results and business generally, (vi) certain restrictions during the pendency of the proposed transaction that may impact IAS's ability to pursue certain business opportunities or strategic transactions, (vii) risks that the proposed transaction disrupts current plans and operations, (viii) risks related to diverting management's attention from IAS's ongoing business operations, (ix) the outcome of any legal proceedings that may be instituted against the parties to the Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto, (x) IAS's ability to retain, hire and integrate skilled personnel, including IAS's senior management team, and maintain relationships with key business partners and customers, and others with whom it does business, in light of the proposed transaction, (xi) unexpected costs, charges or expenses resulting from the proposed transaction, (xii) the impact of adverse general and industry-specific economic and market conditions, (xiii) risks related to IAS's financial position and results of operations, (xiv) risks that the benefits of the proposed transaction are not realized when and as expected, (xv) the impact of inflation and global conflicts, including ongoing trade disputes between the United States and other countries, and (xvi) other factors described under the heading "Risk Factors" in IAS's Annual Report on Form 10-K for the year ended December 31, 2024, IAS's subsequent Quarterly Reports on Form 10-Q, and in other reports and filings made or to be made by IAS with the U.S. Securities and Exchange Commission (the "SEC"). IAS cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, IAS cannot assure you that IAS will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect IAS or IAS's operations in the way IAS expects. The forward-looking statements included in this press release are made only as of the date hereof. Except as required by applicable law or regulation, IAS does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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**ADDITIONAL INFORMATION AND WHERE TO FIND IT** 

This communication is being made in respect of the proposed transaction involving IAS and Novacap. IAS will prepare an information statement for its stockholders, containing the information with respect to the proposed merger specified in Schedule 14C promulgated under the Securities Exchange Act of 1934, as amended, and describing the proposed transaction. When completed, a definitive information statement will be mailed to IAS's stockholders. This press release is not a substitute for the information statement, or any other document, that IAS may file with the SEC or send to its stockholders in connection with the proposed transaction.

IAS STOCKHOLDERS ARE URGED TO CAREFULLY READ THE INFORMATION STATEMENT REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

IAS's stockholders may obtain free copies of the documents IAS files with the SEC from the SEC's website at www.sec.gov or through the Investor Relations page of IAS's website at <u>https://investors.integralads.com</u> or by contacting IAS's Investor Relations by email at <u>ir@integralads.com</u>.

**NO OFFER OR SOLICITATION** 

No person has commenced soliciting proxies in connection with the proposed transaction referenced in this press release, and this press release is neither an offer to purchase nor a solicitation of an offer to sell securities.

**Contacts** 

**Integral Ad Science** 

**Investor Contact:** 

Jonathan Schaffer

<u>ir@integralads.com</u> 

**Media Contact:** 

Tricia Mifsud

<u>press@integralads.com</u> 

**Novacap** 

Renata Kappaun

Senior advisor, Communications

(514) 234 4152

<u>rkappaun@novacap.ca</u> 

**Vista Equity Partners** 

Brian W. Steel

212-804-9170

<u>media@vistaequitypartners.com</u>