Lyntris Downsized Initial Public Offering Priced Below Views
Dow Jones08-19 17:53
Shares of Lyntris are due to make their trading debut Wednesday after the defense-technology company's downsized initial public offering of 17 million shares was priced below expectations.
Lyntris late Tuesday said it is selling 5.71 million shares in the IPO at $17.50 each, while current investors are selling nearly 11.3 million shares.
The Falls Church, Va., company had previously said it planned to offer 4.88 million shares at between $19 and $22 apiece, with current shareholders offering another 19.1 million shares, for a total offering of 24 million shares.
Lyntris shares are slated to begin trading later Wednesday on the New York Stock Exchange under the symbol LYNX.
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