Telos, which provides software-based security products and services, filed on Tuesday with the SEC to raise up to $242 million in an initial public offering.
Telos provides a portfolio of security products and services to protect its customers' people, information, and digital assets. Its offerings span the cybersecurity, cloud security, and enterprise security domains, and its customer base includes the US federal government, large commercial businesses, state and local governments, as well as international customers. Its commercial clients include Fortune 500 enterprises such as Amazon, Citi, Microsoft, and salesforce.com.
The Ashburn, VA-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 under the symbol TLS. B. Riley FBR, BMO Capital Markets and Needham & Co. are the joint bookrunners on the deal. No pricing terms were disclosed.
