Telos Corporation Announces Pricing of Follow-On Offering
April 01 2021 - 6:45AM
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
prospectuses@brileyfin.com; BMO Capital Markets Corp., Attn: Equity
Syndicate Department, 3 Times Square, 25th Floor, New York, NY
10036, telephone: (800) 414-3627, or by emailing
bmoprospectus@bmo.com; or Needham & Company, LLC, Attn:
Prospectus Department, 250 Park Avenue, 10th Floor, New York, NY
10177, telephone: (800) 903-3268, or by emailing
prospectus@needhamco.com.
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.
Forward-Looking StatementsThis press release
contains statements that constitute “forward-looking statements,”
including with respect to the Offering. No assurance can be given
that the Offering discussed above will be completed on the terms
described or at all. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of Telos,
including those set forth in the Risk Factors section of Telos’
registration statement for the Offering filed with the SEC. Copies
are available on the SEC’s website, www.sec.gov. Telos undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
About Telos CorporationTelos
Corporation empowers and protects the world’s most
security-conscious organizations with solutions for continuous
security assurance of individuals, systems, and information. Telos’
offerings include cybersecurity solutions for IT risk management
and information security; cloud security solutions to protect
cloud-based assets and enable continuous compliance with industry
and government security standards; and enterprise security
solutions for identity and access management, secure mobility,
organizational messaging, and network management and defense. The
company serves military, intelligence and civilian agencies of the
federal government, allied nations and commercial organizations
around the world.
Media:Mia WilcoxMerritt Group on behalf
of Telos CorporationEmail: wilcox@merrittgrp.com
Phone: (610) 564-6773
Investors:Brinlea JohnsonThe Blueshirt
GroupEmail: brinlea@blueshirtgroup.com Phone: (415)
269-2645
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