What Happened
Defense Tech Firm Sells 17 Million Shares Below Marketed Range
Lyntris Inc., a sensor technology company, and its backers have raised $297.5 million in a downsized US initial public offering. The company and its shareholders, including private equity firm Trive Capital, sold 17 million shares for $17.50 each, below the initially marketed range of $19 to $22 per share. This development may signal a growing trend in defense tech investments, with Lyntris potentially reaching a market value of $1.89 billion. The IPO was reported by Bloomberg.