Telos Corp. goes public with $254M IPO
Loudoun County cybersecurity contractor is listed on Nasdaq as TLS
Ashburn-based cybersecurity federal contractor Telos Corp. announced Thursday it plans to raise $254 million in an initial public offering.
The $14.9 million shares of common stock at a price of $17 per share are listed on the Nasdaq under the ticker symbol TLS — and were up by 12% on Thursday afternoon. The offering is expected to close on Nov. 23.
Telos intends to use the proceeds to repurchase a noncontrolling interest in Telos Identity Management Solutions LLC and to pay off outstanding debt.
The company provides cybersecurity solutions for IT risk management and information security along with other cloud services. Telos serves military, intelligence and civilian federal government agencies, allied nations and commercial organizations. Founded in 1969, it earned $219.2 million in 2019 revenues.