PLTR - Telos sets terms to offer 12.35M shares in IPO
Cybersecurity solutions provider Telos (TLS) is offering 12.35M shares at an initial price range of $16 to $18.Underwriters' over-allotment is an additional 1.85M shares.Telos provides a portfolio of security products and services to protect its customers' people, information, and digital assets.Its commercial clients include Fortune 500 enterprises such as Amazon, Citi, Microsoft, and salesforce.com.According Grand View Research, the global market for cybersecurity products and services was an estimated $157B in 2019 and is expected to reach $305B by 2027, representing a forecast CAGR of 10.0% from 2020 to 2027:For six months ended June 30, 2020, the company has booked $87.59M in revenue and $4.63M in adjusted EBITDA.The company's segment of the security industry where Xacta competes is estimated to be $37B in 2021 and is forecasted to grow at a compound annual growth rate of 13.4% from 2020 to 2025.The company competes with Palantir Technologies (PLTR), RSA Archer, ServiceNow (NOW), Unisys (UIS), Booz Allen Hamilton (BAH), General
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Telos sets terms to offer 12.35M shares in IPO