Cybersecurity Firm Telos Launches IPO

Telos (Nasdaq: TLS) targeted to raise approximately $254M from the Ashburn, Virginia-based cybersecurity firm's initial public offering Thursday, offering 15M shares of common stock with pricing at $17 each.

The company said Thursday it will use the proceeds to support “general corporate purposes” including repayment of its outstanding subordinated debt and senior term loan and retirement of outstanding 12 percent Cumulative Exchangeable Redeemable Preferred Stock.

Joint bookrunners for the IPO were BMO Capital Markets, B. Riley Securities and Needham & Co.

Colliers Securities, D.A. Davidson & Co., Wedbush Securities, Northland Capital Markets and MKM Partners served as co-managers for the offering.

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