Parsons, which provides technology-driven defense, intelligence, and infrastructure solutions, announced terms for its IPO on Monday.
The Centreville, VA-based company plans to raise $500 million by offering 18.5 million shares at a price range of $26 to $28. At the midpoint of the proposed range, Parsons would command a market value of $2.6 billion.
Parsons was founded in 1944 and booked $3.6 billion in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol PSN. Goldman Sachs, BofA Merrill Lynch and Morgan Stanley are the joint bookrunners on the deal. It is expected to price during the week of May 6, 2019.
