Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

News- Global Defense Technology Holds IPO

Global Defense Technology and Systems, Inc. opened their initial public offering (IPO) $13 per share. On Friday, the shares went for $13.05, up 0.3 pct above the IPO.

The company, based in McLean, VA, sold 4.6 million shares for $59.8 million. Of the offered shares, Global Defense sold 3 million while stockholders are sold an additional 1.6 million. The proceeds from stockholder sales will not go to the company. Underwriters have a 30-day option to purchase around 690, 000 shares at the IPO price.

The contracting firm provides support to intelligence, military, and homeland security agencies. In a filing with the Securities and Exchange Commission, Global Defense said that funding for counterterrorism and intelligence work, military presence overseas and increased mobility in the military will benefit the company.

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Technology

Related Articles