Parsons (PSN) IPO Opens Sharply Higher

Today's IPO for Parsons Corporation (NYSE: PSN) opened for trading at $30.65 after pricing of its initial public offering of 18,518,500 shares of its common stock at a price to the public of $27.00 per share.

In addition, the underwriters have been granted a 30-day option to purchase up to an additional 2,777,775 shares of common stock.

Goldman Sachs & Co. LLC, BofA Merrill Lynch and Morgan Stanley are serving as joint lead book-running managers for the offering. Jefferies and Wells Fargo Securities are serving as Senior Co-Managers and Cowen, SunTrust Robinson Humphrey, MUFG and Scotiabank are serving as Co-Managers for the offering.

Parsons is a leading provider of technology-driven solutions focused on the defense, intelligence and critical infrastructure markets. Celebrating 75 years of operations, Parsons provides technical design and engineering services and software to address our customers' challenges. Parsons has differentiated capabilities in cybersecurity, intelligence, defense, military training, connected communities, physical infrastructure and mobility solutions. Parsons' combination of talented professionals and advanced technology enables a safer, smarter and more interconnected world

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