WASHINGTON (dpa-AFX) - Lyntris, Inc., a defense technology company, announced Monday the commencement of its initial public offering of 24 million shares of its common stock.
The initial public offering price is expected to be between $19.00 and $22.00 per share. Lyntris has applied to list its common stock on the New York Stock Exchange under the ticker symbol 'LYNX'.
The offering consists of 4.88 million shares of common stock being offered by Lyntris and 19.12 million shares of common stock being offered by certain selling stockholders. Lyntris will not receive any proceeds from any sale of shares by the selling stockholders.
The selling stockholders also expect to grant the underwriters a 30-day option to purchase up to an additional 3.6 million shares of common stock (solely to cover over-allotments, if any) at the initial public offering price, less underwriting discounts and commissions.
For the proposed offering, Evercore ISI, Citigroup and Guggenheim Securities are acting as lead book-running managers, while BofA Securities is also acting as a joint book-running manager. Baird, Raymond James and William Blair are acting as bookrunners.
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