Parsons Announces IPO Pricing, Goes Live on NYSE

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Parsons Corp. announced the initial public offering of 18,518,500 common stock shares at $27 per share, as trading on the New York Stock Exchange went live May 8 under ticker symbol PSN.

In fact, shares of Parsons spiked more than 12% by mid-afternoon the day it hit the stock exchange, just hours after the company raised $500 million in its IPO.

Registration of these securities has already been filed with the Securities and Exchange Commission and was effective May 7. The offer is expected to close May 10, but underwriters have been granted a 30-day option to buy up to 2,777,775 additional shares of common stock, according to Parsons.

The leading book-running managers for the offering are Goldman Sachs & Co. LLC, Bank of America Merrill Lynch and Morgan Stanley. Jefferies and Wells Fargo Securities are senior co-managers, and Cowen, SunTrust Robinson Humphrey, Mitsubishi UFJ Financial Group and Scotiabank are co-managers.

Those interested in obtaining a final copy of the prospectus for offerings can contact Goldman Sachs, Bank of America Merrill Lynch or Morgan Stanley.

Related: Parsons Files Registration Statement for Proposed IPO

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