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Private Equity

Parsons Corp. To Offer 18.5 Million Shares In Planned Ipo Priced At $26 To $28 Each

by marketwatch.com posted 3months ago 15 views
Defense technology company Parsons Corp. set terms for its planned initial public offering on Monday, saying it plans to offer 18.5 million shares priced at $26 to $28 each. The company would raise $499.50 million at the midpoint of the price range. Goldman Sachs, BofA Merrill Lunch and Morgan Stanley are lead underwriters on the deal with another six banks acting as co-managers. Proceeds of the deal will be used to fund an IPO dividend of $52.1 million and repay debt. Once the deal is closed, the Parsons Employee Stock Ownership Plan will hold 80.8% of voting power.

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