Defense technology company Lyntris is targeting a valuation of up to US$2.53 billion in its U.S. initial public offering, it said on Monday.
The Falls Church, Virginia-based company and selling stockholders are seeking up to US$528 million by offering 24 million shares priced between US$19 and US$22 apiece.
A flurry of defense companies have pressed ahead with their listing plans since April as the U.S.-Israeli war on Iran has boosted investor appetite.
Dallas, Texas-based private equity firm Trive Capital combined portfolio companies Accelint and Vitesse to form Lyntris in May.
Evercore ISI, Citigroup and Guggenheim Securities are acting as lead book-running managers for the offering.
Lyntris will list on the New York Stock Exchange under the symbol “LYNX.”
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Anil D’Silva and Sahal Muhammed)
