Bowman Consulting Group, which provides engineering-focused professional services, raised $52 million by offering 3.7 million shares at $14, the high end of the range of $12 to $14. The company offered 0.6 million more shares than anticipated. At pricing, Bowman commands a fully diluted market value of $153 million.
Bowman provides planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement, and other technical services to over 2,200 customers. The company operates as both a prime and sub-consultant for a broad base of public (e.g. utilities, government agencies, military branches) and private (e.g. data centers, renewable energy, mining) sector customers.
Bowman Consulting Group plans to list on the Nasdaq under the symbol BWMN. D.A. Davidson and B. Riley Securities acted as lead managers on the deal.
