Parsons Corp

Parsons Corp (PSN) priced its initial public offering on May 9, 2019 at $27.00 per share, raising $500M, and listed on NYSE. At the IPO price its market capitalization was about $2.61B. Goldman Sachs was lead-left underwriter, joined by Morgan Stanley, Jefferies and Wells Fargo and others. Latham & Watkins and Gibson Dunn advised the company and Gibson Dunn advised the underwriters.

Parsons Corp provides technology-driven solutions, technical design and engineering services, and software for the defense, intelligence and critical infrastructure markets. Its areas of expertise include cybersecurity, intelligence, military training, connected communities, physical infrastructure and mobility, and it was founded about 75 years before its offering.

Status

IPO

Ticker

PSN

Exchange

NYSE

Priced

May 9, 2019

IPO price

$27.00

Raised

$500M

Market cap at IPO price

$2.61B

First filed

Apr 12, 2019

Underwriters

Goldman Sachs, Morgan Stanley, Jefferies, Wells Fargo, TD Cowen and Scotiabank

Company counsel

Latham & Watkins and Gibson Dunn

Underwriters' counsel

Gibson Dunn

Sector

Technology

Country / state

VA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.