Bowman Consulting Group, which provides engineering-focused professional services, announced terms for its IPO on Wednesday.
The Reston, VA-based company plans to raise $40 million by offering 3.1 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Bowman Consulting Group would command a fully diluted market value of $134 million.
Bowman provides planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement, and other technical services to over 2,200 customers.
Bowman Consulting Group was founded in 1995 and booked $122 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol BWMN. D.A. Davidson and B. Riley FBR are the joint bookrunners on the deal. It is expected to price during the week of May 3, 2021.
