Lyntris Inc. Files for $528 Million Public Offering

Lyntris Inc. filed for an initial public offering in the United States to raise up to $528 million. The offering includes 4.9 million shares from the company and 19.1 million shares from existing shareholders, including the private equity firm Trive Capital Management LLC.

The company set a target price range of $19 to $22 per share, which would place its market valuation at $2.53 billion at the high end of that range. Lyntris, formed by the merger of Vitesse Systems and Accelint, specializes in sensor and antenna systems for the United States Department of Defense and international allies.

Lyntris intends to use the proceeds from the offering to repay approximately $60 million in outstanding debt. Evercore Inc., Citigroup Inc., and Guggenheim Securities, LLC are leading the IPO, with shares expected to trade on the New York Stock Exchange under the symbol LYNX.