Deal sells shares through three bookrunners with $9 million greenshoe
By Devika Patel
Knoxville, Tenn., Sept. 16 - Global Defense & National Security Systems, Inc. priced its $60 million initial public offering of stock with a $9 million 45-day greenshoe in a Form S-1 filed Monday with the Securities and Exchange Commission.
The company will sell 6 million common shares at $10.00 per share.
Cowen and Co., Maxim Group LLC and I-Bankers Securities, Inc. are the joint bookrunners.
Proceeds will be used for working capital and general corporate purposes.
The blank check company was formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization or reorganization and is based in Reston, Va. It expects the shares to trade on the Nasdaq under the symbol "GDEF."
| Issuer: | Global Defense & National Security Systems, Inc.
|
| Issue: | Common stock
|
| Amount: | $60 million
|
| Greenshoe: | $9 million
|
| Shares: | 6 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., Maxim Group LLC and I-Bankers Securities, Inc.
|
| Pricing date: | Sept. 16
|
| Stock exchange: | Nasdaq: GDEF
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