Telos Corp. (TLS) Announces Launch of Follow-On Offering of Common Stock

Telos^® Corporation (“Telos”) (Nasdaq: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, announced today the launch of a proposed follow-on public offering (the “Offering”), including a secondary public offering by certain existing stockholders of Telos (the “Selling Stockholders”). Telos will not receive any proceeds from the shares of common stock sold by the Selling Stockholders.

B. Riley Securities, BMO Capital Markets, and Needham & Company are acting as joint bookrunners for the Offering. D.A. Davidson & Co., Wedbush Securities, Colliers Securities LLC, Northland Capital Markets, and MKM Partners will serve as co-managers for the Offering. Telos and certain of the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the proposed offering at the offering price, less underwriting discounts and commissions, to cover over-allotments, if any.

The shares of common stock described above are being offered by Telos and the Selling Stockholders pursuant to a “shelf” registration statement that was filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2021, which was automatically effective upon filing, and a preliminary prospectus supplement. The Offering will be made only by means of a written prospectus, including the prospectus supplement, that forms part of the registration statement.

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