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.

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