Home / Business and Economy / Defense Firm Lyntris Aims for $2.53B IPO
Defense Firm Lyntris Aims for $2.53B IPO
10 Aug
Summary
- Lyntris seeks up to $528 million in its U.S. IPO.
- The defense company targets a valuation of $2.53 billion.
- Shares are offered between $19 and $22 each.
Defense technology firm Lyntris has set its sights on a substantial market entry, aiming for a valuation of up to $2.53 billion through its upcoming U.S. initial public offering. The company, based in Falls Church, Virginia, along with its selling stockholders, is looking to raise approximately $528 million.
This offering will involve 24 million shares, with prices anticipated to be between $19 and $22 per share. Lyntris is slated to trade on the New York Stock Exchange under the symbol "LYNX." This move comes amidst a surge in defense company listings since April, fueled by heightened investor interest.
Trive Capital, a Dallas-based private equity firm, formed Lyntris in May by combining its portfolio companies, Accelint and Vitesse. The IPO is being managed by lead book-running managers including Evercore ISI, Citigroup, and Guggenheim Securities.
