- Cyber, cloud, and enterprise security solutions provider Telos Corp TLS priced 7.91 million shares at $33 per share in a follow-on secondary public offering. The offering includes 6.66 million shares from selling shareholders.
- The offer price signifies a 13% discount to the company’s Wednesday closing price of $37.92.
- Telos will raise gross proceeds of $41 million roughly.
- B. Riley Securities, BMO Capital Markets, and Needham & Company are the joint bookrunners for the offering.
- The underwriters have a 30-day option to purchase additional shares up to 1.2 million, including 0.4 million shares of the selling stockholders.
- Telos held cash and cash equivalents of $106 million as of Dec. 31, 2020.
- Price action: TLS shares traded lower by 10.6% at $33.9 in the premarket session on the last check Thursday.
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