Lyntris IPO prices at $17.50/share

Lyntris Inc., a defense technology company, has priced its initial public offering (IPO) at $17.50 per share, below the previously announced range of $19 to $22 per share. The company is offering 24 million shares, with 4,878,049 shares being sold by Lyntris and 19,121,951 shares offered by certain selling stockholders. The underwriters have also been granted a 30-day option to purchase up to an additional 3.6 million shares to cover over-allotments.

Lyntris, which provides "sense-to-act" connectivity solutions for military applications, will list on the New York Stock Exchange under the ticker symbol "LYNX". The offering is being managed by lead book-running managers Evercore ISI, Citigroup, and Guggenheim Securities, with BofA Securities serving as a joint book-running manager.

The IPO is part of a broader trend of defense technology firms seeking public market funding amid heightened investor interest in the sector. The company’s valuation is expected to reach up to $2.53 billion based on the IPO price and total shares offered. Investors should note that the pricing reflects market conditions and investor demand at the time of the offering.