Global Defense Technology & Systems Raises $36.3M in IPO
Global Defense Technology & Systems in McLean, VA raised net proceeds of $36.3 million in an initial public offering, which closed Nov 25/09.
A total of 4.6 million shares of common stock were sold at a price $13 per share. Of that amount, 3.0 million shares were sold by the company and 1.6 million shares were sold by unidentified stockholders. The company is listed on the Nasdaq under the ticker symbol GTEC.
Part of British firm Global Strategies Group, Global Defense Technology & Systems provides IT and C4ISR systems and services for the US Department of Defense and other US national security agencies…
Global Defense Technology’s Technology and Intelligence Services division focuses on counter-terrorism and communications systems, while its Force Mobility and Modernization Systems division designs command and control systems and other systems to support military missions.
The Technology and Intelligence Services division offers:
- counterterrorism intelligence and analysis;
- data analysis and intelligence fusion tools;
- maritime domain awareness and navigation systems;
- network and communications management; and
- decision support systems for command and control.
The Force Mobility and Modernization Systems division offers:
- command and control systems;
- medical support systems;
- field support systems; and
- engineering and technical support.
The IPO was made through an underwriting syndicate led by Cowen and Company, who acted as book-running manager; Stifel, Nicolaus & Company, Raymond James & Associates, and SunTrust Robinson Humphrey acted as co-managers.
