Parsons Estimates Net Proceeds From IPO to Reach $463M

Parsons closed Friday its initial public offering three days after it started trading under the ticker symbol “PSN” on the New York Stock Exchange.

The company said Friday it offered more than 18.5M shares of common stock at a price of $27 per share and expects net proceeds from the IPO to hit approximately $462.9M, excluding underwriting discounts, estimated offering expenses and commissions.

Parsons initially set its IPO share price at $26 to $28 per share in late April and its prospectus filed with the Securities and Exchange Commission as part of the registration process was declared effective Tuesday.

You may also be interested in...

research and development

$105M DOE R&D Funding Opportunity Opens for Small Businesses

The Department of Energy plans to award $105M in total research and development grants for the second phase of its fiscal 2021 Small Business Innovation Research and Small Business Technology Transfer initiatives.

Kevin Kelly advisory board member Enlightenment Capital

Former CACI Exec Kevin Kelly Joins Enlightenment Capital Advisory Board

Kevin Kelly, former president of the national security and innovative solutions sector at CACI International (NYSE: CACI), has been named an advisory board member at investment firm Enlightenment Capital. He brings more than 25 years of government services industry experience to the board and will support Enlightenment's portfolio companies in national security business growth efforts, the company said Monday.