Telos Corp. (TLS) IPO Opens 29% Higher
Get Alerts TLS Hot Sheet
Join SI Premium – FREE
Today's IPO for Telos Corp. (NASDAQ: TLS) opened for trading at $21.90 after pricing its initial public offering of 14,968,859 shares of common stock at a price of $17.00 per share.
Telos intends to use the net proceeds of the Offering for general corporate purposes, to repurchase a non-controlling interest in Telos Identity Management Solutions LLC, retire all outstanding 12% Cumulative Exchangeable Redeemable Preferred Stock, and repay its outstanding senior term loan and subordinated debt.
B. Riley Securities, BMO Capital Markets, and Needham & Company are acting as joint bookrunners for the Offering. Colliers Securities LLC, D.A. Davidson & Co., Northland Capital Markets, Wedbush Securities, and MKM Partners are serving as co-managers for the Offering. Telos has granted the underwriters a 30-day option to purchase up to an additional 2,245,328 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
Telos Corporation empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions to ensure that personnel can work and collaborate securely and productively. The company serves military, intelligence and civilian agencies of the federal government, allied nations and commercial organizations around the world.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U-BX Technology (UBXG) IPO Opens At $5, Priced at $5
- Global M&A picks up in Q1 after flurry of large deals
- Praxis Precision Medicines (PRAX) Announces Proposed Share Offering
Create E-mail Alert Related Categories
Hot IPOs, IPOsRelated Entities
Needham & Company, BMO Capital, B. Riley, D.A. Davidson, IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!