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Software-Based Security Solutions Provider TELOS Raised $254 Million

Esther Thin

Telos Corporation, a software-based security solutions provider, raised $254 million by offering 15 million ADSs at $17, within the proposed range of $16 to $18.

The company offers technologically advanced, software-based security solutions that empower and protect the world’s most security-conscious organizations against rapidly evolving, sophisticated and pervasive threats.

The Ashburn, Virginia-based company was founded in 1971 and booked $180 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq Global Market under the symbol “TLS.” B. Riley FBR, BMO Capital Markets and Needham & Co. are underwriters of the IPO.

The company engages Miles & Stockbridge P.C. as US Securities Counsel, and BDO USA, LLP as Independent Auditor.

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