Global Defense Technology & Systems, Inc. (NASDAQ: GTEC) has priced their initial public offering of 4.6 million shares of common stock at $13.00 per share. Of the initial shares, 3 million shares are being sold by the company and 1.6 million shares are being sold by certain stockholders. The company's underwriters will also have a 30day option to purchase an additional 690,000 shares of common stock from one of the selling stockholders at the IPO.
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The close of the offering should happen on or around November 25, 2009. The company plans to use their proceeds from the offering to repay debt and for general corporate purposes.
About Global Defense Technology & Systems, Inc.
Global Defense Technology & Systems, Inc. provides mission-critical technology-based systems, solutions, and services for national security agencies and programs of the U.S. government. Our services and solutions are integral parts of mission-critical programs run by the Department of Defense, Intelligence Community, Department of Homeland Security, federal law enforcement agencies, and other parts of the federal government charged with national security responsibilities.
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