Telos Corporation Announces Pricing of Follow-On Offering
ASHBURN, Va., April 01, 2021 (GLOBE NEWSWIRE) -- Telos® Corporation (“Telos”) (Nasdaq: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, announced today the pricing of its follow-on offering (the “Offering”) of 7,905,139 shares of common stock at a price of $33.00 per share, including a secondary public offering of 6,662,073 shares of common stock by certain existing stockholders of Telos (the “Selling Stockholders”). Telos will not receive any proceeds from the shares of common stock sold by the Selling Stockholders. The Offering is expected to close April 6, 2021.
B. Riley Securities, BMO Capital Markets, and Needham & Company are acting as joint bookrunners for the Offering. D.A. Davidson & Co., Wedbush Securities, Colliers Securities LLC, Northland Capital Markets, and MKM Partners will serve as co-managers for the Offering. Telos has granted the underwriters a 30-day option to purchase up to an additional 1,185,770 shares of common stock at the offering price, including 378,836 shares of common stock from the Selling Stockholders, less underwriting discounts and commissions, to cover over-allotments, if any.
The shares of common stock described above are being offered by Telos and the Selling Stockholders pursuant to a “shelf” registration statement that was filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2021, which was automatically effective upon filing, and a preliminary prospectus supplement. The Offering will be made only by means of a written prospectus, including the prospectus supplement, that forms part of the registration statement.
An electronic copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this Offering may be obtained, when available, by visiting the SEC’s website or from: B. Riley Securities, Inc., Attn: Prospectus Department, 1300 17th Street North, Suite 1300, Arlington, VA 22209, telephone: (703) 312-9580 or by e-mailing firstname.lastname@example.org; BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, telephone: (800) 414-3627, or by emailing email@example.com; or Needham & Company, LLC, Attn: Prospectus Department, 250 Park Avenue, 10th Floor, New York, NY 10177, telephone: (800) 903-3268, or by emailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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